Crypto Scores Huge Win: House Passes 3 Landmark Crypto Bills

CN
6 hours ago

The House of Representatives voted July 17 to pass three major cryptocurrency bills, signaling a decisive move toward establishing a regulatory foundation for digital assets in the United States.

The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act passed 307–122 and now heads to President Donald Trump’s desk. It sets standards for U.S. dollar–backed stablecoins, including reserve requirements and consumer protections. The Digital Asset Market Clarity Act of 2025 (CLARITY Act), which passed 294–134, advances to the Senate and aims to clarify oversight between the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC).

Commenting on the House passing three crypto bills, White House Crypto Czar David Sacks wrote on social media platform X: “Massive wins for crypto in the House.” Senator Tim Scott stated: “The GENIUS Act takes a bold step forward to promote innovation and consumer protection for payment stablecoins.” Senator Cynthia Lummis emphasized: “Huge win for Digital Assets!”

Crypto Scores Huge Win: House Passes 3 Landmark Crypto Bills

The Anti-CBDC Surveillance State Act also passed. “In a vote of 219-210, the House of Representatives passed Emmer’s bill, which prohibits the Federal Reserve from issuing a central bank digital currency (CBDC) and codifies President Trump’s Executive Order to forbid federal agencies from exploring their development,” the office of Majority Whip Tom Emmer announced on Thursday.

Gemini co-founder Tyler Winklevoss called the passing of crypto bills “a huge day for crypto, U.S. dollar dominance, and America.” House Republicans noted: “The GENIUS Act is headed to the President’s desk. The United States will continue to be a world leader that drives innovation.”

Ripple CEO Brad Garlinghouse shared: “The last major financial regulation bill was passed 15 years ago in response to the 2008 financial crisis. Tomorrow, the signing of the GENIUS Act cements the US’s future in being a leader in truly innovative financial technology–stablecoins. This moment is a historic one, and I, for one, am looking forward to all that is to come as a result of this transformational legislation.” Coinbase CEO Brian Armstrong stressed:

GENIUS ready to be signed into law. CLARITY heading the senate next. We are getting incredibly close to finally having clear rules for crypto to grow this industry in the United States of America.

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