The U.S. House of Representatives failed to approve three key crypto bills — the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance Act. The vote, which was meant to pave the way for discussions on these initiatives, ended in failure: 196 votes 'for' against 223 'against'. Joining the Democrats who opposed were 13 Republicans, which came as a surprise to many. This event triggered a sharp decline $BTC below, highlighting the crypto market's sensitivity to legislative changes.
The bills aimed to regulate stablecoins, create a framework for the crypto market, and limit government control over digital currencies. Their failure may delay progress in establishing a clear regulatory framework in the U.S., raising concerns in the industry. Leaders in the crypto sector hoped that these initiatives would strengthen the U.S. position as a global crypto hub, but political disagreements complicated the process. Experts note that a re-vote is possible, but a date has not yet been set.
This failure highlights the importance of unity in Congress to advance crypto regulation. Stay tuned for updates to keep informed! Subscribe to #MiningUpdates for the latest news!
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