US Crypto Bill Passed ✅

On the evening of July 16 local time, the US House of Representatives passed a procedural vote on the cryptocurrency bill with a result of 217 votes in favor and 212 against, allowing the bill to enter the debate process. This vote lasted over 8 hours, setting a record for the longest voting time since the implementation of the electronic voting system.

Core Controversies

• SEC and CFTC in a jurisdictional tug-of-war

• Stablecoin regulatory requirements for 1:1 dollar reserves and bank licenses

• Anti-CBDC provisions reflect bipartisan differences in digital financial infrastructure concepts

Market Impact and Opportunities

Blockchain concept stocks surged by 45%, the Bitcoin volatility index decreased by 12%, and the funding rate fully rebounded to over 0.05%, indicating that a structural market is forming. It is recommended to focus on compliance-themed targets and avoid projects with strong centralized financial attributes.

Investor Sentiment

72% of users expect a "compliance spring," while 58% worry about the disappearance of regulatory arbitrage opportunities. Community discussions show that the market is transitioning from technological faith to compliance awareness, and it is advised to closely monitor the consolidated text of the bill on the evening of July 17 and adjust investment strategies accordingly.

This week is "Crypto Week" in the US Congress, reviewing three key cryptocurrency legislations including the GENIUS Act and the CLARITY Act, all of which are supported by President Trump. Previously, on July 15 local time, the procedural vote in the House failed due to more than 10 Republican members voting against it, preventing the House from advancing the bill's review process. However, after Trump intervened to coordinate, the situation reversed.

Among these three bills, the GENIUS Act aims to establish a regulatory framework for stablecoins; the CLARITY Act intends to clarify the regulatory authority over cryptocurrencies between the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC); and the Anti-Central Bank Digital Currency Monitoring National Act prohibits the Federal Reserve from issuing central bank digital currency (CBDC).