Crypto Bills Advance After Historic House Vote
Three crypto bills are moving forward in the U.S. House after a deal was struck by Republican leaders. This breakthrough followed a record-setting procedural vote, which lasted over nine hours due to Republican hardliners' initial resistance concerning central bank digital currencies (CBDCs). The vote to set up floor debate eventually passed with a 217-212 margin.
Key Developments
- CBDC Ban Assurance: Republican holdouts initially demanded a guaranteed ban on CBDCs.
- Compromise Reached: House Majority Leader Steve Scalise announced that a CBDC ban will be added to the National Defense Authorization Act (NDAA).
Bills in Focus
House Republicans have designated this week as "Crypto Week," aiming to pass several significant bills:
- CLARITY Act: A bill focused on crypto market structure.
- Anti-CBDC Surveillance Act: Aims to ban central bank digital currencies.
- GENIUS Act: Focuses on regulating stablecoins, with President Trump reportedly keen to sign it swiftly.
Vote Timeline
The House is expected to vote on the GENIUS Act and CLARITY Act soon. Speaker Mike Johnson suggested that votes on bills other than the GENIUS Act might be pushed to Friday or the following week.
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