After initial delays sparked by Republican concerns over central bank digital currencies (CBDCs), the U.S. House of Representatives on Thursday passed three significant pieces of cryptocurrency legislation, Cointelegraph reported.
In a series of votes, lawmakers approved:
The Digital Asset Market Clarity (CLARITY) Act with a vote of 294-134. This bill aims to establish a clear market structure for cryptocurrencies.
The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act with a 308-122 vote, which focuses on creating a regulatory framework for stablecoins.
The Anti-CBDC Surveillance State Act narrowly passed 219-210, seeking to prevent the development of a U.S. central bank digital currency without explicit congressional authorization.
While the Anti-CBDC bill saw the least Democratic support, nearly 80 Democrats voted in favor of the CLARITY Act, and over 100 supported the GENIUS Act. These bills were widely anticipated to move through the chamber before Congress’s August recess.
The votes occurred as Republicans championed their “crypto week” agenda, aligning with President Donald Trump’s stated intention to quickly enact his crypto-friendly policies. However, the legislative process faced a snag on Wednesday when some Republicans initially withheld their votes on a package including the three bills, demanding a specific carve-out to ban CBDC development in the U.S. This procedural hurdle was ultimately resolved, allowing the bills to proceed to separate votes.
The passage of the bills has been met with overwhelmingly positive reactions from the crypto industry. Summer Mersinger, CEO of the Blockchain Association and former Commodity Futures Trading Commission member, lauded the vote on the Anti-CBDC Surveillance State Act, stating it signals support for “privacy, market competition, and individual financial freedom.”
The GENIUS Act, having already passed the Senate in June, is reportedly slated for President Trump’s signature as early as Friday, assuming no further amendments. The CLARITY Act and the Anti-CBDC Surveillance State Act will now advance to the Senate for debate and potential amendments before their ultimate fate is decided.