Trump Urges Quick Passage of Stablecoin Bill Amid Ongoing Discussions

President Trump urged the House of Representatives to quickly pass the stablecoin oversight bill approved by the Senate. However, Representative French Hill, chairman of the House Financial Services Committee, indicated that further discussions are necessary regarding differences between the Senate's GENIUS Act and the House's STABLE Act.

Key points include:

Trump emphasized the need for a 'clean' passage without amendments.
Hill stated ongoing talks with House leadership to address concerns and meet Trump's August deadline.
Differences exist in areas such as extraterritoriality, oversight roles, and banking-commerce separation.
Options for the House include passing GENIUS as is, integrating it with the STABLE Act for a compromise, or combining both bills with the Digital Asset Market Clarity Act.

The outcome will depend on negotiations to reconcile these legislative approaches.