Important Points
- Two important crypto laws are expected to be passed by the Congress.
- A last-minute deal involving an anti-CBDC provision saved the vote.
- Final votes begin Thursday, starting with the GENIUS Act.
Crypto Legislation Back on Track After House Showdown
After a chaotic few days in Congress, momentum is finally back for major crypto legislation.
On Wednesday, the House of Representatives managed to break through a political deadlock that had stalled progress earlier in the week.
The outcome? Two key crypto bills the Clarity Act and the GENIUS Act are now moving ahead toward final votes.
Here’s What Just Happened in Washington
It wasn’t easy. A crucial procedural vote to start discussing these bills was lost by the House on Tuesday.
Although there is widespread support for these crypto bills across party lines, the process was blocked by the Freedom Caucus, a conservative faction within the Republican Party.
By Wednesday, what had changed?
In short, compromise. House Republican leaders agreed to add anti Central Bank Digital Currency (CBDC) language to a completely separate bill:
the National Defense Authorization Act (NDAA). The anti-CBDC language included in the NDAA provided recalcitrant Republicans with plenty of reasons to support the “must-pass” bill.
Two crucial procedural votes to advance the cryptocurrency bills were made possible by this:
- The first passed by a narrow 217–215 margin.
- The second dragged on for nearly 10 hours but finally passed 217–212.
So, What’s Next for the Crypto Bills?
With those votes behind them, lawmakers are ready for the next step. Here’s what’s coming:
- The GENIUS Act, which focuses on stablecoins, is expected to be voted on Thursday. If it passes, it heads straight to President Trump’s desk.
- The Clarity Act, aimed at setting clearer rules for crypto markets, will likely come up for a vote next week. If it gets the green light, it will head to the Senate next.
Both of these bills are being hailed as significant victories for the U.S. crypto industry, which has been pushing for clearer regulations for quite some time now.
Why This Matters for Crypto
The crypto world has been operating in a bit of a legal gray area in the U.S. These bills are designed to fix that.
The Clarity Act gives regulators and companies a more structured way to handle crypto assets.
Meanwhile, Stabechin’s perverted currencies are associated with real money the Genius Act is focused on, the aim is to ensure their support and dependence.
If implemented, these rules can give companies more transparent compliance roadmaps and help promote confidence in the American Cryptocurrency market.
In the House Vote Showdown, Democrats Attack the GOP for Crypto Chaos
Of course, none of this happened without drama. Democrats circulated a letter urging their members to vote against the bills not necessarily because they opposed crypto, but because of how chaotic the process had become.
The letter questioned whether Republicans could be trusted to implement laws effectively, saying:
“How can we trust how they will act when it’s time for serious implementation? The US does not require crypto chaos being distributed by the House Republican.”
However, enough Republicans were re-engaged to obtain the required number of votes thanks to the anti-CBDC language compromise.