Earlier today, on July 18th, the U.S. House of Representatives approved three key cryptocurrency bills. The CLARITY Act passed by a 294-134 vote, the GENIUS Act passed by a 308-122 vote, and the Anti-CBDC Act cleared by a 219-210 vote.
Lawmakers say these bills and regulations intend to strengthen credibility within the industry and position the U.S. as the “crypto capital of the world”, as urged by President Donald Trump.
Stablecoin Regulation Heads to President
One of the bills would define stablecoins, which are crypto tokens linked to a stable asset like the U.S. dollar. There was widespread bipartisan support for stablecoin legislation. It passed the Senate in June and is now awaiting Trump’s signature.
The bill provides consumer protections, mandates issuers to maintain full reserves, and complies with American anti‑money laundering and sanctions laws.
The GENIUS Act, which seeks to create a new marketplace structure for digital assets, now heads back to the Senate. It passed the House with a 308-122 vote.
Advocates view this as essential for delineating trading venues, custody services, and the broker-dealer functions.
Congress hopes this legislation will create clear guidelines for exchanges and funds so they can operate under federal jurisdiction instead of fragmented enforcement.
Also Read: Trump Says ‘No Delays, No Add Ons,’ For Swift House Approval of GENIUS Act To Lead Digital Assets
Ban on Central Bank Digital Currency
The Anti‑CBDC Act met a tighter vote at 219-210. It would stop the Federal Reserve from creating a U.S. central bank digital currency.
Backers argue that a government‑issued digital dollar could threaten privacy and give too much power to regulators. Critics counter that a Fed‑backed digital currency could boost payments efficiency and financial inclusion.
Lawmakers had a debate over whether to pack the three bills into a single package. A divide among Republicans delayed votes by more than a day.
In the end, GOP leaders chose separate roll calls. Some legislators worry that combining all measures could jeopardise the stablecoin bill’s quick path to law. Others say the broader framework must be approved at the same time to avoid regulatory gaps.
Industry Response
Crypto firms and trade groups cheered the House votes. Treasury Secretary Scott Bessent had forecast that stablecoin rules could help the market grow to $3.7 trillion by 2030.
Patrick McHenry, vice chair of Ondo Finance and former House Financial Services Committee chair, likened the bills to the landmark securities laws of the 1930s. He said they will shape digital assets for generations and cement U.S. leadership in the field.
Some Democrats raised questions about potential conflicts of interest. The stablecoin bill bars members of Congress and their families from profiting from these tokens.
However, it does not cover the president or the first family. Critics pointed out that this gap leaves Trump’s own crypto interests unchecked.
What Comes Next?
With the stablecoin bill waiting for the official presidential approval, all attention now turns to the Senate. Lawmakers on the Banking Committee will weigh the GENIUS Act and the CBDC ban in the coming weeks.
Industry watchers say swift Senate action will be crucial to keep momentum. Any delay could frustrate businesses that have pushed for clear, consistent rules all year.
Also Read: Senator Lummis Expects CLARITY And GENIUS Acts To Clear White House By Year-End