On Thursday, the US House of Representatives approved the GENIUS, CLARITY, and Anti-CBDC measures.
The GENIUS measure is going to President Trump to be signed, while the CLARITY bill is going to the Senate to be debated.
The White House has said that there will be a party on Friday to mark the signing of the GENIUS law.
On Thursday, the US House of Representatives made history by passing three crypto laws: the Guidance and Establishing Innovation for US Stablecoins (GENIUS) bill, the Digital Asset Market Clarity (CLARITY) bill, and the Anti-CBDC bill.
During the historic Crypto Week, House members adopt proposals to regulate crypto.
On Thursday, House members voted 308-102 to adopt the GENIUS measure, which is now on President Trump's desk for final approval.
The bill sets up a clear set of federal rules for stablecoins and their issuers in the US. It requires full reserves backed by the US Dollar and comprehensive anti-money laundering (AML) rules. This will become the GENIUS Act the first legislation in the US that regulates cryptocurrency.
The White House is planned an event on Friday to celebrate the signing of the GENIUS Act. Lawmakers and business executives may be there. Earlier on Thursday, White House Press Secretary Karoline Leavitt said that President Trump is sure that the GENIUS Act would pass in the House.
"We hope to get it to the President's desk, and we're planning a signing ceremony tomorrow afternoon," she stated during a news conference.
The CLARITY law also passed with a vote of 294 to 198, with supporters doubling the number of those who opposed it to send it to the Senate. Seventy-eight Democrats joined the support wagon for the market structure bill to make sure it passed.
The bill's goal is to provide clear regulations for the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to follow when they oversee digital assets. This would help control the larger crypto market.
After it passes, the Senate will look at the CLARITY measure one more time. If it passes, President Trump will sign it.
The House also approved the Anti-CBDC Surveillance State measure by a slim margin of 219 to 210 votes.
The bill's goal is to stop the Federal Reserve from developing a retail central bank digital currency (CBDC). The move comes after House Republicans have had a number of problems with the Anti-CBDC measure in the last two days. Republicans disagreed about combining the CLARITY and Anti-CBDC legislation, saying it may stop the latter's development in the Senate.
On Wednesday, lawmakers agreed to include the Anti-CBDC measure to the National Defense Authorization Act (NDAA) to resolve the arguments.
Even though there was some doubt about how the crypto bills and Crypto Week were going to go, House members from all parties backed two of the three measures, which was more than what was expected. Only two Democrats voted for the Anti-CBDC measure.
Bitcoin (BTC) is trading close to $120,000, while Ethereum (ETH) has exceeded the $3,400 barrier for the first time since February, when the legislation passed on Thursday.
#BTC120kVs125kToday #BTCWhaleTracker #PowellVsTrump #AltcoinSeasonLoading #USCryptoWeek $BTC $ETH $SOL
