Donald Trump stated that a Cryptocurrency development is a must and an insider provided an explanation!

The White House is calling on Senate leaders to bring Senator Bill Hagerty's stablecoin bill, the GENIUS Act, to discussion in the Senate next month.

The law aimed at establishing a regulatory framework for stablecoin payments recently passed the Senate Banking Committee with a vote of 18-6, marking a significant step forward in defining clear rules for digital assets.

Majority Leader John Thune is expected to schedule the bill for discussion in the Senate. However, before it can become law, the GENIUS Act must also pass through the House of Representatives, where consensus will be reached with the STABLE Act, which is the House's version of the stablecoin legislation. The STABLE Act, supported by House members French Hill and Bryan Steil, will be discussed in the House Financial Services Committee on April 2.

The White House hopes that strong Senate support will facilitate the legislative process and avoid a long conference committee process.

A lobbyist for cryptocurrency speaking to Crypto In America said, "Pressure is already increasing to pass the bill quickly and avoid a conference if possible," and added: "If GENIUS gets 70 votes, there will be significant pressure for the House of Representatives to back down and pass the bill as it is. This pressure is already starting to build."

Despite the urgency, it remains uncertain whether the House of Representatives will abandon its version of the bill in favor of the Senate version. Bo Hines, Executive Director of the Presidential Digital Asset Working Group, expressed optimism about the timeline of the bill, stating that stablecoin legislation could reach President Trump's desk within two months.