# President Trump signs GENIUS Act, creating stablecoin regulatory framework: CNBC Crypto World

Source: https://www.youtube.com/watch?v=m23BodJsklM
Recap page: https://rapidrecap.app/video/m23BodJsklM
Generated: 2025-07-18T20:54:22.655+00:00

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## Quick Overview

The U.S. House of Representatives passed three crypto-related bills, including the GENIUS Act for stablecoin regulation, which now heads to President Trump's desk for an expected signature, marking the first major standalone crypto rules signed into law. This legislative progress has spurred major financial institutions like JPMorgan Chase and Charles Schwab to deepen their involvement in the crypto space, while Ether ETFs saw record inflows, surpassing Bitcoin ETFs for the first time.

**Key Points:**
- The U.S. House of Representatives passed three crypto-related bills, including the GENIUS Act for stablecoin regulation, which is now on President Trump's desk.
- The GENIUS Act, already passed by the Senate, is expected to be signed into law by President Trump, establishing consumer protections for stablecoins.
- The CLARITY Act, aimed at creating a market structure framework for crypto, and the Anti-CBDC Surveillance State Act, preventing a Fed digital currency, also passed the House and moved to the Senate.
- Ether ETFs saw record daily inflows of over $600 million, surpassing Bitcoin ETFs for the first time, contributing to Ether's over 19% weekly gain.
- Major financial institutions like JPMorgan Chase, CitiGroup, and Bank of America are preparing to engage in the stablecoin space following the new regulatory clarity.
- Charles Schwab anticipates launching Bitcoin and Ether ETFs, expecting accelerated growth as clients seek to consolidate their crypto holdings with trusted platforms.
- The crypto industry's influence in Washington continues to grow, with significant financial contributions from crypto PACs to political campaigns.

![Screenshot at 1:19: The U.S. Capitol building under a clear blue sky, symbolizing legislative action on crypto.](https://ss.rapidrecap.app/screens/m23BodJsklM/00-01-19.png)

**Context:** This CNBC Crypto World segment, aired on July 18, 2025, provides an update on the latest developments in cryptocurrency regulation and market performance. It highlights significant legislative progress in the U.S. House of Representatives, particularly concerning stablecoins, and examines how major financial institutions are responding to these evolving regulatory landscapes. The report also touches on the current state of key cryptocurrency prices and the increasing political influence of the crypto industry.

## Detailed Analysis

This week marked a significant legislative milestone for the crypto industry in the U.S., as the House of Representatives passed three key bills. The GENIUS Act, focused on stablecoin regulation, cleared the House with a 308-122 vote and is now awaiting President Trump's signature, having already passed the Senate. This bill aims to establish consumer protections for stablecoins, which are typically tied to assets like the U.S. dollar. Additionally, the CLARITY Act, designed to create a market structure framework for crypto, and the Anti-CBDC Surveillance State Act, which would prevent the Federal Reserve from creating a central bank digital currency, also passed the House and are now moving to the Senate for consideration. Despite some internal Republican disagreements that caused multi-day delays, these bills ultimately advanced. In the crypto markets, Bitcoin saw a slight dip, while Ether climbed more than 4% daily and over 19% weekly, marking its biggest two-week gain since August 2021. Solana also rose over 1.5% daily and nearly 8% weekly. Notably, Ether ETFs experienced record daily inflows exceeding $600 million, surpassing Bitcoin ETFs' inflows of $522 million for the first time ever. Major financial institutions are responding to these regulatory developments; JPMorgan Chase CEO Jamie Dimon indicated the bank's intent to engage with stablecoins, following their recent launch of a stablecoin-like deposit token (JPMD) for institutional clients. CitiGroup and Bank of America executives also expressed interest in the stablecoin space. Charles Schwab's President and CEO, Rick Wurste, highlighted that their clients hold over 20% of the crypto exchange-traded product market and anticipate launching Bitcoin and Ether ETFs soon, expecting significant growth as clients seek to consolidate their crypto holdings with trusted platforms. The growing influence of crypto PACs and lobbying efforts in Washington is also noted, indicating continued industry engagement in shaping future regulations.

### Crypto Market Performance

- Bitcoin fell less than 1% to $117,918.73
- Ether climbed more than 4% to $3,567.42, marking a 19% weekly gain and its biggest two-week gain since August 2021
- Solana rose more than 1.5% daily and nearly 8% weekly to $177.14

### Historic Crypto Legislation

- The House passed three crypto-related bills, including the GENIUS Act for stablecoin regulation, which now moves to President Trump's desk
- The CLARITY Act, establishing a market structure framework for crypto, and the Anti-CBDC Surveillance State Act, preventing a Fed CBDC, passed the House and move to the Senate
- The GENIUS Act passed with bipartisan support (308-122 vote) and sets consumer protections for stablecoins tied to assets like the U.S. dollar

### Industry & Banking Response

- Blockchain Association CEO Summer Mersinger anticipates continued industry growth and dollar dominance with stablecoins due to new regulatory guardrails
- JPMorgan Chase CEO Jamie Dimon stated the bank will get involved in stablecoins, having launched a stablecoin-like token (JPMD) for institutional clients
- CitiGroup and Bank of America executives also expressed interest in the stablecoin space

### Charles Schwab's Crypto Strategy

- Charles Schwab clients hold over 20% of the exchange-traded product crypto market, totaling about $25 billion
- Charles Schwab anticipates launching Bitcoin and Ether ETFs soon to provide clients with access and consolidate their crypto assets
- The firm expects significant growth in crypto offerings as clients prefer to hold all their assets with a trusted firm like Schwab

### Regulatory Outlook & Influence

- The CLARITY Act is a necessary first step in establishing clear roles for regulators like the SEC and CFTC over various digital assets
- The GENIUS Act provides essential rules for stablecoin issuance and what custodial stablecoin issuers are allowed to do
- Crypto PACs continue to amass significant funds, indicating a growing influence of the crypto industry on legislative and regulatory processes in Washington

![Screenshot at 0:00: CNBC Crypto World title card with a split image of former President Trump](https://ss.rapidrecap.app/screens/m23BodJsklM/00-00-00.png)
![Screenshot at 0:27: CNBC anchor Tanaya Macheel presenting daily crypto prices for Bitcoin, Ether, and Solana](https://ss.rapidrecap.app/screens/m23BodJsklM/00-00-27.png)
![Screenshot at 0:38: A line chart showing the weekly price performance of Bitcoin, Ether, Solana, and the S&P 500](https://ss.rapidrecap.app/screens/m23BodJsklM/00-00-38.png)
![Screenshot at 1:02: A smartphone displaying the Ethereum logo and 'ETF' text, resting on a laptop keyboard](https://ss.rapidrecap.app/screens/m23BodJsklM/00-01-02.png)
![Screenshot at 1:10: A hand holding a physical Bitcoin coin with blurred 'ETF' letters in the background](https://ss.rapidrecap.app/screens/m23BodJsklM/00-01-10.png)
![Screenshot at 1:25: The U.S. House of Representatives chamber during a vote, showing the vote tally on a screen](https://ss.rapidrecap.app/screens/m23BodJsklM/00-01-25.png)
![Screenshot at 2:14: Former President Trump walking across a grassy lawn towards the camera, with a helicopter in the background](https://ss.rapidrecap.app/screens/m23BodJsklM/00-02-14.png)
![Screenshot at 2:38: Summer Mersinger, CEO of the Blockchain Association, speaking with the U.S. Capitol building in the background](https://ss.rapidrecap.app/screens/m23BodJsklM/00-02-38.png)
![Screenshot at 3:13: Jamie Dimon, CEO of JPMorgan Chase, speaking at an event](https://ss.rapidrecap.app/screens/m23BodJsklM/00-03-13.png)
![Screenshot at 3:41: Rick Wurste, President & CEO of Charles Schwab, speaking with the Charles Schwab logo blurred in the background](https://ss.rapidrecap.app/screens/m23BodJsklM/00-03-41.png)