The head of Trump's Digital Asset Advisory Committee said that the White House hopes the stablecoin bill will be passed in the House of Representatives before August

Odaily Planet Daily News: The US Senate passed the GENIUS Act on Tuesday, which is currently being reviewed by the Republican controlled House of Representatives. If passed smoothly, it will be presented to Trump for signature. The House of Representatives passed the stablecoin bill last year, but the Senate, led by the Democratic Party at the time, did not review it, resulting in the bill's failure. After receiving funding from the cryptocurrency industry during his presidential campaign, Trump is pushing for a comprehensive reform of US cryptocurrency policies. Bo Hines, the head of Trump's Digital Asset Advisory Committee, said that the White House hopes the bill will be passed before August. (Reuters) Previously, the Hong Kong SAR government published the "Notice on the Effective Date of the Stablecoins Ordinance" in the Gazette today, designating August 1, 2025 as the date on which the Stablecoins Ordinance (Chapter 656) (the "Ordinance") will come into effect.