Key Takeaways:
The House passed a second procedural vote advancing the GENIUS and Clarity Acts, paving the way for final debate.
The GENIUS Act sets federal standards for stablecoins, including full collateralization and annual audits.
The Clarity Act aims to split crypto oversight between the SEC and CFTC, enhancing transparency and consumer protection.
After a dramatic setback earlier this week, the U.S. House of Representatives has reignited legislative momentum for digital assets by successfully passing a procedural vote on two landmark crypto bills: the GENIUS Act and the Clarity Act. This move marks a pivotal moment in what lawmakers have dubbed “Crypto Week,” signaling a renewed commitment to establishing a comprehensive regulatory framework for stablecoins and digital asset markets.
GENIUS Act: Stablecoin Standards Take Center Stage
The GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins), already approved by the Senate, proposes robust federal guidelines for dollar-backed stablecoins. Issuers would be required to maintain full collateralization with U.S. dollars or high-quality liquid assets, undergo annual audits if their market cap exceeds $50 billion, and comply with rules for foreign-issued stablecoins operating in the U.S.. This bill could reach President Trump’s desk by the end of the week, marking a major milestone for crypto regulation.
Clarity Act: Defining Oversight in the Digital Asset Space
The Clarity Act seeks to delineate regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It mandates financial disclosures from retail-facing crypto platforms and enforces the separation of customer and corporate funds. While the GENIUS Act is closer to enactment, the Clarity Act still awaits Senate approval, but its advancement signals bipartisan interest in clearer crypto governance.
What’s Next for Crypto Legislation?
With the procedural hurdle cleared, the House is expected to begin debating both bills within 24 to 48 hours. A final vote on the GENIUS Act could happen as early as Thursday evening. If passed, these bills could reshape the U.S. crypto landscape, offering long-awaited clarity and consumer safeguards in a rapidly evolving market.