U.S. House Passes Clarity, GENIUS, and Anti-CBDC Acts With Historic Bipartisan Support for Crypto – Crypto News – Crypto News
Connect with us
U.S. House Passes Clarity, GENIUS, and Anti-CBDC Acts With Historic Bipartisan Support for Crypto U.S. House Passes Clarity, GENIUS, and Anti-CBDC Acts With Historic Bipartisan Support for Crypto

De-fi

U.S. House Passes Clarity, GENIUS, and Anti-CBDC Acts With Historic Bipartisan Support for Crypto – Crypto News

Published

11 months ago

on

The bills were approved after days of delays.

On Thursday, the U.S. House of Representatives passed three major cryptocurrency bills – the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, the Clarity Act, and the Anti-CBDC Surveillance State Act – marking a significant step toward clearer crypto regulation in the United States.

The Genius Act sets rules for stablecoins, which are digital currencies tied to assets like the U.S. dollar. It passed with a vote of 308-122, with 102 Democrats supporting it, according to the official House of Representatives website.

Meanwhile, the Clarity Act passed with a vote of 294-134, including 78 Democrats. Crypto in America host Eleanor Terrett explained in a post on X this was more than twice the number expected and more than the 71 Democrats who supported a similar bill last year. The Clarity Act aims to establish a comprehensive regulatory framework for digital assets and cryptocurrencies.

The Anti-CBDC Surveillance State Act – which would ban the federal government from creating a central bank digital currency (CBDC) and using it for monetary policy – passed with a narrower vote of 219-210, according to the House of Representatives website, with just two Democrats voting in favor. Terrett revealed this outcome was expected given the bill’s controversial nature.

Bipartisan Support

These three bills represent a major breakthrough in U.S. crypto legislation, aiming to provide clearer regulatory frameworks for digital assets. The bipartisan support for the Genius and Clarity Acts also underscores growing acceptance of crypto by lawmakers.

“For the first time in history, Congress has passed bipartisan digital assets legislation through both the Senate and the House,” Senate Banking Committee Chairman Tim Scott (R-S.C.) said in a statement following the House’s passage of the GENIUS Act.

“The GENIUS Act marks a major milestone in securing America’s leadership in payments innovation while protecting consumers and strengthening our national security,” Scott added. “This bill is critical to delivering on President Trump’s agenda to cement the United States as the crypto capital of the world, and I look forward to taking a similar approach to get digital asset market structure legislation signed into law.”

“Crypto Week”

The “Crypto Week” voting came after several days of delays. Some Republicans had blocked the bills, wanting to combine them or link the anti-CBDC bill to a must-pass defense bill, The New York Times reported. After talks, the party leaders worked out a deal, and the votes moved forward.

“That initial failure wasn’t really about crypto. A group of conservative Republicans voted against the rule as a protest over unrelated grievances with House leadership — mainly budget and policy disagreements,” said Brandon Ferrick, General Counsel at Douro Labs, in comments shared with The Defiant. “But overnight, President Trump personally intervened, reaching out to several GOP holdouts and persuading enough of them to reverse course.”

Ferrick added that the pressure campaign “flipped the outcome and put the crypto package back in motion.”

Now that the bills have passed in the House, the GENIUS Act is expected to go to President Donald Trump’s desk for signature and the Clarity Act is moving to the Senate.

Related Topics:
Continue Reading

Trending