Foreign media: Trump is expected to have his first major legislative victory in the field of encryption policy next week

PANews reported on July 11 that according to Politico, Trump is expected to have his first major legislative victory in the field of cryptocurrency policy next week. Republicans in the U.S. House of Representatives are preparing to pass a bill submitted by the Senate to establish new regulatory rules for stablecoins. The House of Representatives is expected to vote on the Senate's "GENIUS Act" early next week. The bill aims to build the first U.S. regulatory framework for stablecoins pegged to the U.S. dollar. It was passed by the Senate with bipartisan support last month and is expected to become the first major cryptocurrency regulatory measure adopted by Congress. If Trump signs this bill, it may bring a major boost to the crypto industry, which has long been difficult to enter the mainstream, enhance its legitimacy and popularity, and open the door for traditional financial institutions to get involved in digital assets. In addition, this legislation may be good for the Trump family, whose sons founded a company that issues stablecoins last year.