Donald Trump Announces Deal To End Republican Revolt
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Jordan King is a Newsweek reporter based in London, U.K. Her current focus is on religion, health, food safety and population. She has covered the persecution of religions in the global south, fertility and birth rate issues around the world, multiple disease outbreaks in the U.S. and ongoing vaccination discourse. Jordan joined Newsweek in 2024 from The Evening Standard and had previously worked at Metro.co.uk, she has background in international human-interest stories and is a graduate of Kingston University, in London. You can get in touch with Jordan by emailing j.king@newsweek.com. Languages: English.
Jordan King
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President Donald Trump has announced that he made a deal with most of the House Republicans who derailed a procedural vote on a package of legislation including three cryptocurrency bills.
Trump wrote on Truth Social late on Tuesday night: “I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule.
“Speaker of the House Mike Johnson was at the meeting via telephone, and looks forward to taking the Vote as early as possible. I want to thank the Congressmen/women for their quick and positive response. MAKE AMERICA GREAT AGAIN!”
The GENIUS Act, or Guiding and Establishing National Innovation for U.S. Stablecoins Act, aims to regulate stablecoin, a type of cryptocurrency whose value is pegged to another asset, like the U.S. dollar.
While the bill has been welcomed by digital asset advocates and the financial industry, it has also faced criticism from some Democrats and a handful of Republicans concerned about potential conflicts of interest, safeguards against corruption, and the extended reach of “Big Tech” in finance.
President Donald Trump waves as he arrives on the South Lawn of the White House in Washington D.C. on Tuesday. President Donald Trump waves as he arrives on the South Lawn of the White House in Washington D.C. on Tuesday. AP
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