House Majority Leader Scalise to Present Key Republican Crypto Legislation
The U.S. House has passed three cryptocurrency bills, including the CLARITY Act and GENIUS Act, with significant implications for the digital currency landscape.
TRUMP
Summary
On July 18, the U.S. House of Representatives passed three cryptocurrency-related bills: the CLARITY Act, the GENIUS Act, and an anti-CBDC surveillance bill. The CLARITY Act received a vote of 294 in favor and 134 against, with all opposing votes coming from Democratic representatives. The CLARITY Act and the anti-CBDC bill will move to the Senate for consideration, while the GENIUS Act is expected to be signed into law by Trump on Friday.
Terms & Concepts
- GENIUS Act: A proposed legislative measure aimed at establishing a regulatory framework for dollar-backed stablecoins.
- CLARITY Act: A legislative measure aimed at clarifying the jurisdictions of the SEC and CFTC in relation to cryptocurrencies.
- Anti-CBDC Act: Legislation that prevents the issuance of central bank digital currencies, addressing concerns over privacy.