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U.S. Lawmakers Pass Three Key Crypto Bills
In a significant move, the House of Representatives has approved three major cryptocurrency-related bills aimed at regulating stablecoins and delineating jurisdictional lines for digital assets. The bills in question are the GENIUS Act, the Anti-CBDC Surveillance Act, and the Digital Asset Market Clarity Act.
The GENIUS Act has already cleared both chambers and now awaits President Trump’s signature. This legislation seeks to regulate stablecoin issuers by imposing reserve, audit, and transparency requirements under a hybrid federal-state regulatory regime.
Meanwhile, the Anti-CBDC Surveillance Act passed with a narrower vote of 219-210 and prohibits the issuance of a government-backed digital dollar, which supporters argue could pose significant privacy risks and open the door to unwanted government surveillance. The bill’s passage marks a significant victory for privacy advocates.
The Digital Asset Market Clarity Act was also approved by the House, passing 294-134. This legislation aims to grant the Commodity Futures Trading Commission (CFTC) authority over digital commodities while preserving the Securities and Exchange Commission’s (SEC) role in securities, thereby reducing the regulatory gray area that has plagued the sector.
Industry leaders have welcomed this coordinated legislative push, labeling it a milestone in crypto policy. Stu Alderoty, president of the National Cryptocurrency Association, commented that “Any legislation premised on transparency, disclosure, accountability, and auditability provides the core consumer protections that anyone who wants to engage in the crypto economy should be entitled to.”
While the GENIUS Act is now on President Trump’s desk awaiting his signature, advocates are hopeful that the remaining two bills can navigate the Senate. However, not everyone shares this optimism, with Terry Haines of Pangaea Policy cautioning investors not to overinterpret the House wins, saying “Markets shouldn’t fall for crypto industry-generated hype: crypto has no Washington momentum.”
Source: fullycrypto.com
