Has the Genius Act passed yet?
Asked by: Mr. Judge Howe MD | Last update: April 11, 2026Score: 5/5 (7 votes)
Trump signed the GENIUS Act into law, a historic piece of legislation that will pave the way for the United States to lead the global digital currency revolution. The GENIUS Act prioritizes consumer protection, strengthens the U.S. dollar's reserve currency status, and bolsters our national security.
Did the Genius bill pass?
The House passed the bill on July 17, 2025 and President Donald Trump signed the new legislation into law the next day. Two other cryptocurrency bills passed in the House but still need Senate approval.
Has the Pro Act passed Congress?
No, the PRO Act (Protecting the Right to Organize Act) has not passed into law; it passed the U.S. House of Representatives in March 2021 but stalled in the Senate due to significant opposition, despite strong support from labor unions and President Biden. While reintroduced, it remains a priority for Democrats, but faces challenges in becoming law without significant changes or a shift in Senate dynamics, as it aims to overhaul major labor laws, making organizing easier and increasing penalties for employers who violate workers' rights.
How will the GENIUS Act affect XRP?
Ripple is already supporting stablecoin activity on the XRP ledger. The GENIUS Act may increase on-chain trading volume, thereby increasing demand for XRP. This legal victory today also reduces the influence of the U.S. Securities and Exchange Commission (SEC).
Where can I find the GENIUS Act?
Text - S. 1582 - 119th Congress (2025-2026): GENIUS Act | Congress.gov | Library of Congress.
What the GENIUS Act means for the crypto industry
Is the United States switching to digital currency?
The U.S. is not implementing a government-issued digital currency (CBDC); instead, recent legislation (the GENIUS Act) has established regulations for private, stablecoin digital currencies, while also potentially restricting a federal CBDC, aiming to keep the U.S. a leader in digital finance through private innovation rather than direct central bank issuance. The government's current focus is on regulating private digital assets and stablecoins, not creating a new digital dollar for the public, though exploration of CBDCs by the Federal Reserve has occurred.
What is the $3000 rule for banks?
The "3000 bank rule" refers to U.S. Treasury regulations under the Bank Secrecy Act (BSA) requiring financial institutions to record and report specific information for certain transactions over $3,000, mainly involving cash or monetary instruments, to combat money laundering, including identifying the payer, recipient, and transaction details for five years. This rule covers purchases of cashier's checks, money orders, and wire transfers above this amount, mandating verification of identity and detailed record-keeping for law enforcement.
Can XRP really go to $10,000?
It's extremely unlikely for XRP to reach $10,000 under current conditions due to the immense market capitalization it would require (over $500 trillion, exceeding the global economy). While some optimistic analysts suggest a $10,000 price is possible through massive institutional adoption, supply shock, and specific utility, most experts find this scenario highly improbable, viewing more modest targets ($3-$20 range) as realistic for XRP's potential growth.
Can XRP reach $1000 after a lawsuit?
It's highly unlikely XRP will reach $1,000 due to the astronomical market cap required, but resolving the SEC lawsuit removes a major hurdle, allowing potential growth towards expert predictions of $5-$20+ as institutional adoption and use in cross-border payments increases, though achieving such extreme prices would need XRP to replace global finance systems and drastically reduce its supply.
Which crypto will benefit from the Genius Act?
Of the various cryptocurrencies, XRP is the one with the strongest links to the banking system since it's used to facilitate cross-border payments, especially for financial institutions looking to bridge fiat currencies. As such, it's not too surprising that it has been the main beneficiary of the new legislation.
What is the big bill that Trump passed?
The One Big Beautiful Bill Act (OBBBA) or the Big Beautiful Bill (P.L. 119-21), is a U.S. federal statute passed by the 119th United States Congress containing tax and spending policies that form the core of President Donald Trump's second-term agenda. The bill was signed into law by Trump on July 4, 2025.
Did the Republicans refuse to raise the minimum wage?
Washington, DC – Today Senate Republicans blocked the Minimum Wage Fairness Act, a bill to raise the federal minimum wage from $7.25 to $10.10 per hour over several years.
What does being censured by Congress mean?
In Congress, censure is a formal, public reprimand for serious misconduct by a member, requiring them to stand in the House or Senate chamber to hear the Speaker or presiding officer read a resolution condemning their actions, serving as a severe rebuke and public humiliation short of expulsion or impeachment. While often used for members, Congress can also pass non-binding censure resolutions to express disapproval of other officials like the President, though this is a symbolic gesture.
What is Donald Trump's crypto currency?
$Trump (stylized in all caps) is a meme coin associated with United States president Donald Trump, hosted on the Solana blockchain platform.
Who approved the 3rd stimulus check?
The third stimulus check was approved as part of President Joe Biden's $1.9 trillion American Rescue Plan, passed by the Democratic-controlled Congress in March 2021, with the House passing it and the Senate approving it on a party-line vote, allowing President Biden to sign it into law.
Will crypto be taxed in 2025?
Cryptocurrency exchanges must start sending 1099-DA forms for the 2025 tax year. If you don't receive a Form 1099-B or 1099-DA from your crypto exchange, you are still required to report all crypto sales or exchanges on your taxes.
Is it possible for XRP to reach $1000?
No, it is mathematically implausible for XRP to hit $1,000 under current conditions, as it would require a market cap exceeding the entire U.S. economy (around $60 trillion). While significant long-term growth is possible with widespread adoption in global finance, most experts see realistic targets in the $5-$10 range or higher (like $12.50 by 2028), not thousands, focusing on XRP's utility as an efficient payment infrastructure rather than speculative hype.
Will XRP hit $100 in 2025?
No, it's highly unlikely XRP will reach $100 in 2025, as it would require an astronomically large market capitalization, far exceeding global assets like gold or even the entire crypto market, making such a valuation mathematically improbable in the near term despite some bullish community sentiment and recent ETF news. While some analysts see potential for significant long-term growth (perhaps $10-$25 by 2030), most experts consider $100 by 2025 unrealistic, with some suggesting a timeframe closer to 2030 or beyond, if ever, depending on massive institutional adoption and capital inflows.
Who spends 200 million of XRP lawsuits?
"With the SEC, we will spend — this is the first time I've shared this publicly — by the time all's said and done, we will have spent $200 million defending ourselves against a lawsuit, which from its very beginning, people were like, well, this doesn't make a lot of sense," Garlinghouse said during a fireside chat ...
Where will XRP be in 5 years?
In summary, in five years from now I think XRP could be trading as much as 90% lower than its recent high, which would translate to a price of $0.36.
How many people hold 10k XRP?
There are over 185,000 wallets holding between 10,000 and 25,000 XRP, but far fewer above that level. Once you get into the hundreds of millions of XRP, the numbers fall into the double digits. At the very top, only six wallets hold more than 1 billion XRP. That alone shows how rare large XRP holdings really are.
Should I still hold on to XRP?
On the other hand, if you want to diversify your portfolio with some exposure to cryptocurrencies with real value, buying some XRP makes sense, assuming that you're willing to hold it for at least three years to let Ripple's development roadmap for the network's future play out a bit more.
Is depositing $2000 in cash suspicious?
Depositing $2,000 in cash isn't inherently suspicious, but it can attract scrutiny if it seems unusual for you or if it's part of a pattern to avoid reporting thresholds (like the $10,000 limit for Currency Transaction Reports), with banks potentially filing a Suspicious Activity Report (SAR) for amounts over $5,000 or for structuring. To avoid issues, have clear records of the cash's legitimate source (e.g., business invoices, pay stubs) and avoid breaking up larger amounts into smaller deposits to hide them (structuring).
How much cash can you put in the bank without getting in trouble?
Key Takeaways. The majority of banks don't limit how much cash you can deposit, but all institutions have to report deposits of $10,000 or more to the federal government.
How much cash can I put in the bank without being questioned?
You can deposit any amount of cash without being automatically flagged if it's under $10,000 in a single transaction, but banks must report deposits of $10,000 or more to the IRS via a Currency Transaction Report (CTR). While large, legitimate deposits are fine, making multiple deposits to stay under $10,000 (structuring) is illegal and triggers Suspicious Activity Reports (SARs), leading to potential account freezes or law enforcement scrutiny, so transparency with your bank is best for large sums.