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US House of Representatives Passes Three Key Cryptocurrency Bills Ahead
Three bills included in the Republican crypto agenda have gained bipartisan support, despite opposition from Democrats who voiced concerns about potential corruption risks and conflicts of interest.
After delays caused by debates on central bank digital currencies (CBDCs), the US House of Representatives approved three major cryptocurrency bills. In Thursday’s session, lawmakers voted:
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294 to 134 in favor of the Digital Asset Market Transparency Act (CLARITY);
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308 to 122 in favor of the National Stablecoin Standards Act (GENIUS);
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219 to 210 in favor of the Government Oversight of CBDC Act.
Notably, around 80 Democrats backed CLARITY, and more than 100 voted for GENIUS. Consideration of these bills was scheduled ahead of the August congressional recess.
Republicans heavily promoted the passage of the bill package as part of the so-called “crypto week,” aligning with President Donald Trump’s statements about the need to accelerate crypto market regulation. However, the voting process faced delays when some Republicans demanded an amendment fully banning CBDC development in the US.
Industry Reaction Mostly Positive
Representatives of the crypto industry largely welcomed the passage of the bills as a major victory. The most contentious issue was the anti-CBDC bill, which received minimal support from Democrats.
Summer Mersinger, former commissioner at the Commodity Futures Trading Commission and current head of the Blockchain Association, said the CBDC law supports “privacy, market competition, and individual financial freedom.”
Before the vote, California Congresswoman Maxine Waters urged Democrats to reject all three bills. In response to Republicans’ “crypto week,” Waters organized a “week of fighting crypto corruption,” accusing the Trump administration of corrupt schemes.
“These bills will create dangerous loopholes in financial regulation, putting consumers and investors at risk under the guise of supporting innovation,” Waters said. “They could trigger a financial crisis similar to the 2008 meltdown, when trillions of dollars were lost to so-called innovations.”
According to reports, Trump is ready to sign the GENIUS Act on Friday, provided the Senate makes no additional amendments. The CLARITY and anti-CBDC bills will proceed to the Senate for possible revisions before final approval.
See also: "Trump-backed cryptocurrency bills advance in the House of Representatives"
