US President Donald Trump announced Tuesday evening that Congress leaders agreed to advance the Historical Engineering Act following a meeting of the Oval Office, marking an important turnaround after the House Republicans were not adopted in key procedural procedure earlier this week.
“I am in the oval office with 11 of the 12 members of the congress / women necessary to adopt the law on genius and, after a brief discussion, they all agreed to vote tomorrow morning in favor of the rule,” published Trump on Truth Social.
The president confirmed that the president of the Mike Johnson room participated by phone and expressed his enthusiasm to accelerate the legislative process.
Strategic inversion after the back of the congress
The announcement represents a spectacular reversal of the reverse of previous Tuesday, when the Republicans of the House did not obtain a procedural vote 196-222 which would have advanced the legislation of the “crypto week”. The failure came from internal republican divisions, the members of the Caucus of the Freedom Caucus opposing the group package which included the law of engineering alongside the law on clarity and defense credits.
The Act on Engineering establishes the first federal framework for the stablescoins to be in dollars, granting a sweeping authority to the Ministry of the Treasury and creating regulated paths so that private companies emit digital dollars. The Senate adopted the legislation with a vote of 68-30 in June, with bipartisan support despite the democratic concerns concerning the cryptocurrency companies of Trump.
Market implications and economic projections
The Treasury Secretary, Scott Bessent, has planned that the American Stablescoin market could extend almost eight to exceed 2 dollars of dollars in several years, highlighting the potential economic impact of legislation. The bill aims to regulate the market by around $ 238 billion for stablescoin, creating a clearer framework for banks, businesses and other entities to issue digital currencies.
The renewed momentum follows the sustained pressure of Trump, which qualified the regulation of stablescoin as essential to maintain American technological supremacy on China and Europe. Industry observers consider that engineering acts as the most feasible legislative priority in the cryptographic sector, established actors seeking to clarify regulatory to legitimize traditional adoption.
“I would like to thank the members of the Congress / Women for their quick and positive response,” said Trump, reporting confidence in the result of the procedure procedure on Thursday.
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