The GENIUS Act is to become law after 308 House members approved stablecoin-focused regulation for issuers like Tether, Circle, and Ripple.
The CLARITY Act sets roles for the SEC and CFTC in crypto oversight and introduces legal classification for digital tokens.
The Anti-CBDC Act limits Federal Reserve authority by banning the creation of a Central Bank Digital Currency.
The U.S. House of Representatives has passed three major cryptocurrency bills, marking a significant moment for digital asset regulation. The GENIUS Act, which regulates stablecoin issuers, cleared the House with 308 votes in favor and 122 against. The bill is now set to be signed into law by President Donald Trump at a ceremony scheduled for 2:30 p.m. EST tomorrow.
The GENIUS Act establishes reserve requirements and transparency standards for issuers of stablecoins like Tether and Circle. The legislation is expected to become the first comprehensive law focused specifically on stablecoins, following years of calls for regulatory oversight in the crypto sector.
CLARITY Act Also Passes, Awaits Senate Review
Alongside the GENIUS Act, the House also approved the CLARITY Act with 294 votes in favor and 134 opposed. This bill outlines the roles of the SEC and CFTC in overseeing digital assets. It introduces clear rules for how tokens are classified and which agencies will regulate specific segments of the crypto market. The bill now moves to the Senate for further consideration.
The Anti-CBDC Act, or bill no. 3, passed by the House narrowly with 219 ayes and 210 noes. This act would prevent the Federal Reserve from issuing a central bank digital currency. It indicates worries by legislators regarding privacy and the monopolization of digital payments by the federal government.
The Long Procedural Vote served as the Forerunner
The vote was one day after a protracted procedural vote that went on for ten hours. The vote played a fundamental role in paving the way to formal consent. President Trump was reported to have engaged in important persuasion activities to ensure that GOP members voted in favor of the bills following the first vote failure.
Following the legislative progress, Bitcoin surged past $120,000, with its price reaching a new all-time high of $123,000 earlier in the week. XRP and other major tokens also recorded gains in response to the House votes.
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