Update (July 18 at 5:08 pm UTC): This report now includes added details regarding Circle’s confirmed participation in the scheduled signing ceremony, set for 6:30 pm UTC.
Update (July 18 at 5:33 pm UTC): This report has been updated with a statement from Sergey Nazarov.
Numerous influential individuals from the cryptocurrency and blockchain space have publicly stated their intention to be present alongside U.S. President Donald Trump at the formal signing of a new stablecoin legislative package on Friday.
Following earlier setbacks that threatened to delay votes on the proposed laws, members of the U.S. House of Representatives approved three distinct pieces of crypto-focused legislation on Thursday. These include the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, the Digital Asset Market Clarity (CLARITY) Act, and the Anti-CBDC Surveillance State Act.
The GENIUS Act is officially scheduled to be enacted into law at 6:30 pm UTC. A formal ceremony is planned, and is expected to include several vocal supporters of crypto from within President Trump’s circle.
Announcements disseminated through social media and shared with Cointelegraph indicate that Ripple’s Chief Legal Officer, Stu Alderoty, Circle’s CEO, Jeremy Allaire, Chainlink Labs’ co-founder, Sergey Nazarov, Anchorage Digital’s CEO, Nathan McCauley, and Multicoin Capital’s Managing Partner, Kyle Samani, have confirmed their attendance at the GENIUS Act’s signing ceremony scheduled for Friday.
The signing event will potentially feature other crypto leaders with established positive relationships with the administration. Among these, individuals connected to World Liberty Financial, a business venture backed by the Trump family that has previously launched its own stablecoin and faced scrutiny from government officials, are likely to be present.
The stablecoin regulation is anticipated to become fully effective in either 18 months or 120 days after the U.S. Treasury Department and the Federal Reserve complete the required rule-making processes. This timing suggests that any impacts of the legislation, whether beneficial or adverse, are unlikely to emerge as key campaign topics for candidates during the 2026 midterm elections.
Related: GENIUS Act Heads to Trump’s Desk: Impacts and Implications
Nazarov stated in a recent post that the GENIUS Act represents a significant advancement for stablecoins, laying a solid base for on-chain retail payments in both well-developed and developing economies. Nazarov continued “With increased fiat value now on-chain, we enter the next industry stage, a Real World Asset (RWA) Tokenization boom.”
McCauley, Nazarov, and Samani previously engaged with President Trump and key White House personnel during a crypto summit in March, reflecting a generally supportive stance towards the administration’s approach to digital assets.
Cointelegraph reached out to representatives from major cryptocurrency exchanges, including Tether, Binance, Kraken, and Gemini, and also World Liberty Financial to confirm whether they would attend the event, but had not received any statements by the time of this publication.
Next Steps for Remaining Legislation
The GENIUS Act has already progressed to President Trump’s desk for formal signing due to its earlier approval by the U.S. Senate in June, before the House vote on Thursday. This afforded both congressional bodies ample opportunity to evaluate any amendments prior to the final vote.
In contrast, the CLARITY Act and Anti-CBDC Surveillance State Act were initially introduced in the House. Consequently, both of these measures must now navigate the Senate approval process before ultimately being signed into law.
During Thursday’s deliberations on the three bills, several House Democrats voiced their opposition, suggesting that President Trump could potentially derive personal financial benefits from their enactment. These claims stem from his alleged investments in World Liberty Financial and his involvement with his own memecoin.
Numerous cryptocurrency executives who actively supported President Trump’s 2024 presidential campaign, including Gemini co-founder Tyler Winklevoss, publicly praised the GENIUS Act’s successful passage through Congress via social media channels.
The voting patterns on the CLARITY and CBDC bills in the House indicate that the Republican-sponsored legislation might encounter similar hurdles from Senate Democrats. While over 70 Democrats sided with Republicans to pass the CLARITY Act, only a limited number (two) voted in favor of the anti-CBDC bill, which largely secured approval along party lines.
Magazine: GENIUS Act May Pave the Way for a Meta-Backed Stablecoin: Will It Succeed?