U.S. House Passes Three Major Cryptocurrency Bills

The U.S. House of Representatives passed three significant cryptocurrency bills on July 17, 2025, marking a pivotal moment in the regulation of digital assets. The bills, known as the CLARITY Act, GENIUS Act, and Anti-CBDC Act, received bipartisan support and are set to reshape the regulatory landscape for digital currencies and exchanges nationwide.

The GENIUS Act, which establishes a regulatory framework for the stablecoin market, was passed with a vote of 308 to 122. This legislation is the first major crypto bill to be approved by Congress and is now headed to the President's desk for signature. The passage of the GENIUS Act was not without controversy, as a group of conservative Republicans initially staged a rebellion, halting the procedural vote to advance the bill. This standoff led to a meeting at the White House, where President Trump intervened and persuaded the holdouts to support the legislation. The holdouts initially sought to merge the GENIUS Act with a broader market structure bill and a measure to ban a central bank digital currency, but this plan was ultimately abandoned.

The CLARITY Act, which sets rules for when a digital asset is considered a commodity or security, also passed with bipartisan support. This legislation aims to provide clarity on the regulatory treatment of digital assets, a critical step in fostering innovation and investment in the industry. The bill banning a central bank digital currency was approved largely along party lines, reflecting the deep divisions within the Republican Party on this issue.

The passage of these bills represents a significant victory for the cryptocurrency industry, which has long sought clear regulatory guidelines. The GENIUS Act, in particular, is expected to provide much-needed stability to the stablecoin market, ensuring that these digital assets are backed by adequate reserves and subject to appropriate oversight. The broader market structure bill, which passed with bipartisan support, will also have far-reaching implications for the cryptocurrency industry. This legislation aims to provide a comprehensive regulatory framework for digital assets, addressing issues such as consumer protection, market integrity, and national security. The bill will now head to the Senate for further consideration.

The passage of these bills comes at a time when the cryptocurrency industry is facing increasing scrutiny from regulators and lawmakers. The Trump administration has been criticized for its lax regulatory approach to digital currencies, with some lawmakers expressing concerns about the potential for corruption and foreign influence. The passage of these bills represents a significant step forward in addressing these concerns and providing a clear regulatory framework for the industry.

The GENIUS Act, in particular, has been praised by industry advocates for its comprehensive approach to regulating stablecoins. The legislation establishes a framework for regulating these digital assets, ensuring that they are backed by adequate reserves and subject to appropriate oversight. This will provide much-needed stability to the stablecoin market, which has been plagued by volatility and uncertainty in recent years.

The passage of these bills also reflects the growing bipartisan support for cryptocurrency regulation. Despite the deep divisions within the Republican Party on this issue, a significant number of lawmakers from both parties supported the legislation. This bipartisan support is a testament to the growing recognition of the importance of the cryptocurrency industry and the need for clear regulatory guidelines.

The passage of these bills is a significant milestone for the cryptocurrency industry, which has long sought clear regulatory guidelines. The GENIUS Act, in particular, is expected to provide much-needed stability to the stablecoin market, ensuring that these digital assets are backed by adequate reserves and subject to appropriate oversight. The broader market structure bill will also provide a comprehensive regulatory framework for digital assets, addressing issues such as consumer protection, market integrity, and national security. The passage of these bills represents a significant step forward in fostering innovation and investment in the cryptocurrency industry.