FameEX Hot Topics | U.S. House Passes Three Significant Crypto Bills Ahead of August Break

After significant delays in Congress, caused largely by Republican concerns over central bank digital currencies (CBDCs), the U.S. House of Representatives has successfully passed three key crypto bills. These include the Digital Asset Market Clarity (CLARITY) Act, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, and the Anti-CBDC Surveillance State Act. The votes were held during a House session on Thursday, with the CLARITY Act passing 294-134, the GENIUS Act passing 308-122, and the Anti-CBDC Surveillance State Act passing by a narrower margin of 219-210.

The passage of these bills was heavily supported by Republicans, and although nearly 80 Democrats backed the CLARITY Act and over 100 supported the GENIUS Act, the legislation faced hurdles before reaching this point. These bills had been expected to move through the chamber before Congress’s traditional August recess, but efforts to pass them as part of the Republicans’ “crypto week” plans faced delays. The delay was caused by some Republicans holding out, insisting that the bills include an exemption to ban the development of a CBDC in the U.S. before proceeding with the crypto legislation package. This added complication stalled the vote for several hours before it was finally resolved.

Despite these delays, the passage of the three bills is seen as a significant win for the crypto industry. Experts and advocates from within the industry hailed the successful vote, though the Anti-CBDC Surveillance State Act received less support from Democrats and is expected to remain a divisive partisan issue. Summer Mersinger, CEO of the Blockchain Association and former Commodity Futures Trading Commission member, commented that the vote on the Anti-CBDC bill signaled strong support for privacy, market competition, and individual financial freedom.

However, not all lawmakers were in favor of the legislation. California Representative Maxine Waters strongly opposed the bills and called for Democrats to vote against them. Waters, who has been outspoken in her anti-crypto stance, responded to the Republicans’ “crypto week” branding by hosting an “anti-crypto corruption week” press conference. She warned that the bills would create significant loopholes in U.S. financial regulations, posing risks to consumers and investors. She also expressed concerns that the bills could contribute to another financial crisis similar to the 2008 economic collapse.

Looking ahead, President Trump plans to sign the cryptocurrency legislative draft, which includes the GENIUS Act, at a planned event on Friday, assuming there are no amendments after it passed the Senate in June. The CLARITY Act and Anti-CBDC bills will now move to the Senate for further debate and potential amendments. Afterward, they will return to the House or the president’s desk for final approval. This marks an important moment in the ongoing development of U.S. cryptocurrency regulations.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.