As the 'GENIUS Act' recently passed by the U.S. Senate enters the House review stage, attention is being drawn to efforts to merge it with the 'CLARITY Act', which is expected to provide a comprehensive framework for cryptocurrency regulation. If the two bills are integrated, it is anticipated that U.S. regulations for the digital asset industry will be dramatically reorganized.
The GENIUS Act set a symbolic milestone as the first large-scale cryptocurrency bill in the United States, passing the Senate on June 17th with 51 votes in favor and 23 against. The bill contains basic regulations for stablecoins, and if passed in the House as is, would only require presidential signature. However, the House is discussing merging this bill with the existing CLARITY Act to pursue a more comprehensive regulatory proposal.
Tom Emmer, a key figure in the House majority party, mentioned that the likelihood of passing the GENIUS Act increases when processed in connection with the CLARITY Act. The CLARITY Act, the 'Digital Asset Market Clarity Act of 2025', has already passed the House Financial Services Committee and is awaiting a full congressional vote. The bill aims to establish a legal framework that defines all digital assets, including cryptocurrencies, their transaction methods, and supervision systems.
In contrast, former President Trump wants the GENIUS Act to be passed quickly as a standalone bill without merging with the CLARITY Act. Through Truth Social, he emphasized that "this bill will make the United States a 'firm leader' in the digital asset sector". Trump indicated that the U.S. should take the initiative in global blockchain competition.
Meanwhile, as suspicions have been raised about Trump's past connection to World Liberty Financial's stablecoin project, some lawmakers are expressing concerns about potential conflicts of interest in political circles regarding digital assets. Against this background, Senator Adam Schiff introduced the 'COIN Act' on June 23rd, attempting to reduce political risks by limiting the president and immediate family from profiting through cryptocurrencies during their term.
The ultimate goal of this legislative movement is to centrally unify the currently fragmented state-level cryptocurrency regulatory framework, enabling new projects and companies to operate under clearer and more consistent regulations. While some in the industry are concerned that such regulation could burden early startups, the overall sentiment is welcoming, recognizing that 'clarity' is a key variable for investment.
If both bills are successfully merged and passed, the United States can reduce uncertainty in the digital asset industry and reaffirm its position as a global innovation hub. From the perspective of cryptocurrency users and investors, a safer and more trustworthy environment is expected to be created.
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