Trump prepares to sign the first major Crypto Bill of the US after the House of Representatives approved

After a dramatic week, the US House of Representatives voted to pass Bill #GENIUS , a groundbreaking bill aimed at creating a federal legal framework for the issuance and creation of stablecoins. With strong support from both parties (102 Democrats and 206 Republicans), this bill will be presented to President Donald Trump for signing into law, marking the first major crypto legislation of the nation.

Other bills and "Crypto Week" exceeded expectations

On the same day, the House also passed Bill #CLARITY , a bill that establishes a legal framework for most other cryptocurrencies. Surprisingly, 78 Democratic lawmakers voted in favor of this bill, indicating a better-than-expected consensus. Industry leaders hailed this as a historic victory for the cryptocurrency industry.

The House's "Crypto Week" nearly derailed earlier in the week due to opposition from a group of hardline Republican lawmakers who demanded stronger anti-#CBDC measures in the GENIUS Act. However, a compromise was reached, whereby anti-CBDC language would be added to a pending defense spending bill.

Additionally, a third bill prohibiting the US from developing central bank digital currency (CBDC) was also passed, but with a narrow margin and primarily along party lines (all Republicans supported, majority of Democrats opposed). This bill faces more challenges in the Senate.