Thunderstorm Warning! The Two Houses of Congress Clash Over Stablecoin Legislation as the Crypto Market Faces Life-and-Death Situation Tonight

Suddenly Breaking! Trump's Death Knell Hits a Roadblock in Congress

Just now, the White House and Capitol Hill dropped a bombshell in the crypto circle—Trump tweeted this morning urging the House of Representatives to immediately pass the Senate version of the 'GENIUS Act,' claiming 'The U.S. must seize stablecoin supremacy.' But House Financial Services Committee Chair French Hill directly countered, 'The Senate version is a half-finished product! We will not let it slide!' This struggle for regulatory power has placed the $2.4 trillion stablecoin market on a fiery grill.

Deadly Divergence Point: Federal vs. State Regulatory Power Showdown

The core conflict between the versions in both Houses lies in:

Regulatory Authority: The Senate allows projects with a market cap exceeding $10 billion to be directly managed by the Federal Reserve, while smaller players can opt for state regulation; the House, however, insists on all being under federal control, leaving state governments as mere spectators.

Issuance Qualifications: The Senate provides a backdoor for tech giants—companies like Amazon can issue tokens as long as they meet privacy standards; the House outright bans non-financial public companies, effectively killing Musk's X payment plan before it could be born.

Foreign Players' Lifeline: The Senate requires all stablecoin issuers to be registered in the U.S., meaning offshore giants like Tether must either comply or exit; the House allows foreign institutions to 'go public through a shell,' as long as the Treasury approves.

Tonight's Market: Both Bulls and Bears on High Alert

Personal Prediction: This legislative tug-of-war will trigger three major market shocks:

USDC/USDT Price War Escalation: If the Senate version passes, USDC could skyrocket due to its 100% U.S. Treasury reserve compliance advantage (current market cap $187 billion, 41% market share); however, if the House lets Tether slide, USDT might retaliate and reclaim its share (currently holding 55% market share but with questionable reserve transparency).

Algorithmic Stablecoin Doomsday Judgment: The Senate requires the Treasury to study the risks of algorithmic stablecoins within a year, while the House aims to outright ban them for two years. Regardless of which version passes, projects like FRAX will need significant restructuring.

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