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U.S. Lawmakers Pass Three Key Crypto Bills
In a groundbreaking move, the U.S. lawmakers have passed three key cryptocurrency bills, which marks a significant step towards reshaping the American crypto landscape. The GENIUS Act, Anti-CBDC Surveillance Act, and Digital Asset Market Clarity Act have all received approval from the House of Representatives.
The GENIUS Act has already cleared both chambers and is now awaiting President Trump’s signature. This bill seeks to regulate stablecoin issuers by imposing reserve, audit, and transparency requirements under a hybrid federal-state regime. Industry leaders have hailed this move as a crucial step towards bringing clarity and consumer protections to the crypto economy.
The Digital Asset Market Clarity Act, which passed with a majority vote of 294-134, aims to clarify the jurisdictional lines for digital assets by granting the Commodity Futures Trading Commission (CFTC) authority over digital commodities while preserving the Securities and Exchange Commission’s (SEC) role in securities. This move is seen as crucial in reducing the regulatory gray area that has plagued the sector.
The Anti-CBDC Surveillance State Act, on the other hand, seeks to block any attempt by the Federal Reserve to issue a central bank digital currency. This bill passed with a narrower majority of 219-210 and prohibits the issuance of a government-backed digital dollar. Supporters argue that this move would prevent significant privacy risks and unwanted government surveillance.
Industry leaders have welcomed these coordinated legislative efforts, which they claim provide the core consumer protections that anyone engaging in the crypto economy should be entitled to. The passage of all three bills marks a rare moment of alignment between lawmakers and crypto advocates on the need for legal clarity and consumer protections.
While some may not interpret this momentum as lasting, others are optimistic about the future trajectory of these regulatory initiatives.
Source: fullycrypto.com
