House passes historic crypto bill, GENIUS Act
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Congress defines the Genius Act, also known as the Guiding and Establishing National Innovation for US Stablecoins, as providing "regulation of payment stablecoins" making it "unlawful for any person other than a permitted payment stablecoin issuer to issue a payment stablecoin in the United States."
If passed, the bills could lead to new ways to use the currencies, corporate adoption, and institutional investment.
Two of the legislations — the GENIUS Act and the CLARITY Act — were passed with significant bipartisan support.
The crypto industry has scored a historic win this week after the stablecoin bill was cleared by the U.S. House and set for President Donald Trump’s final approval into law. House lawmakers voted 308-122 to adopt the GENIUS Act.
The US House advances debates on key US crypto legislation, including bills on stablecoins, digital asset oversight, and anti-CBDC measures.
The Clarity Act (HR 3633), the legislation that aims to provide guidance on how different digital assets are regulated and which agency has oversight, is
The Genius Act passed in the House by a 308-122 vote after it was passed in the Senate last month with broad bipartisan support. The landmark legislation lays out the rules of the road for the $250 billion market for stablecoin,
The Republican-controlled U.S. House of Representatives cleared key procedural hurdles on crypto legislation on Wednesday, a day after President Donald Trump intervened to save the initiative, paving the way for the first federal law for digital assets.