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U.S. House Clears Path for Crypto Bills After Record-Long 10-Hour Vote—GENIUS Act Set for Final Vote
In a marathon vote that lasted an astonishing 10 hours, the U.S. House has cleared the path for crypto bills to be presented before Congress. This historic decision sets the stage for a crucial final vote on the GENIUS Act.
The extraordinary length of the vote was necessitated by the opposition of conservative House Republicans, who refused to budge on their stance. The final vote was a narrow margin, with 217-212 votes in favor of advancing the crypto agenda.
This pivotal move comes as a major win for advocates of cryptocurrency regulation and oversight. It has been widely speculated that the GENIUS Act will be voted on today, Thursday, paving the way for its potential signing into law by the President.
In a related development, the House Freedom Caucus has agreed to tie the anti-Central Bank Digital Currency (CBDC) bill to the National Defense Authorization Act (NDAA). This unusual alliance is seen as a major coup for crypto enthusiasts and advocates of financial privacy and individual liberty.
It appears that Rep. Andy Harris, co-chair of the House Pro-Life Caucus, has made significant progress in securing these protections. In his statement, he emphasized that this move would serve to “stop government overreach and preserve individual liberty.”
The developments on Capitol Hill have raised eyebrows as the Federal Housing Finance Agency (FHFA) instructed mortgage giants Fannie Mae and Freddie Mac to recognize crypto assets in mortgage applications.
Furthermore, influential figures such as Michael Saylor of MicroStrategy are pushing for a more robust approach, suggesting that the US should aim to own at least 20% of the global Bitcoin supply. This bold proposal has sparked intense debate within the crypto community.
Stay tuned for further updates and analysis on this groundbreaking development in the world of cryptocurrency regulation and oversight.
Source:
Source: www.crypto-news-flash.com
