House Passes Three Key Crypto Bills After Trump Intervention

The U.S. House of Representatives is on the brink of a significant breakthrough in cryptocurrency legislation, with momentum building for the passage of three key bills: the GENIUS Act, the CLARITY Act, and the Anti-CBDC bill. This push follows a renewed effort by President Donald Trump, who personally met with Republican holdouts to secure their support, flipping key votes and setting the stage for a revised procedural vote scheduled for Wednesday.

The GENIUS Act, which stands for "Giving Every American the Right to Invest in the United States," is central to the House’s digital currency agenda. It aims to establish a clear regulatory framework for dollar-backed stablecoins, fostering innovation, competition, and safety in blockchain-based payment systems. The bill seeks to address political tensions surrounding central bank digital currencies (CBDCs) by providing a structured environment for regulated digital dollars. Nearly all Republican objections initially revolved around the bill’s lack of a CBDC ban, but these concerns have reportedly been addressed politically.

In addition to the GENIUS Act, the Anti-CBDC bill, introduced by Rep. Tom Emmer, is gaining bipartisan support. This legislation aims to block the Federal Reserve from launching a CBDC without Congressional approval, addressing growing fears of financial surveillance. The CLARITY Act, which standardizes digital asset definitions across agencies, is also expected to be bundled with the upcoming vote. Together, these bills could significantly reshape the digital currency landscape by providing clear regulatory guidelines and protecting user privacy.

House Financial Services Chair French Hill expressed confidence in the passage of these bills, stating that the House now has the votes needed to advance the legislation. This turnaround follows a failed procedural vote earlier in the week, where 13 Republicans rejected the motion, stalling the crypto agenda. However, Trump’s intervention and the coordinated efforts of Speaker Mike Johnson have renewed optimism that the crypto-focused legislation will advance.

The passage of these bills would mark a significant milestone in the regulation of digital assets in the United States. The GENIUS Act would provide a clear regulatory framework for digital assets, while the CLARITY Act would ensure the stability and transparency of stablecoins. The Anti-CBDC bill would protect individual privacy rights by limiting the development of a central bank digital currency. These legislative efforts are expected to usher in a new era of regulatory clarity and investor confidence in the crypto market, fostering innovation and competition in the blockchain-based payment systems.