In a major breakthrough for crypto regulation, the U.S. House of Representatives has cleared a key hurdle for the CLARITY Act and the GENIUS Act. The bills are now on the way to final floor votes after a historic 10-hour procedural vote, the longest in congressional history, the bills are now set for final floor votes.
The vote passed by a narrow 217 to 212 following intense back-room negotiations. Some of the Republican hold outs changed their position after meeting with President Donald Trump.
They have agreed to support the bills upon assuring them that they would add powerful anti-CBDC (Central Bank Digital Currency) language in CLARITY Act. Rep. G.T. Thompson is sponsoring the CLARITY Act, which will establish transparent regulations of digital asset markets.
In the meantime, the GENIUS Act, which is not amendable, is aimed at innovation and expansion in the crypto industry. These bills have the potential to transform the future of the U.S. crypto policy together.
Chairman French Hill praised the efforts of President Trump, Speaker Mike Johnson, and other GOP leaders for helping move the digital asset agenda forward. He called this a step toward a “golden age” for digital assets in the U.S.
The vote began at 1:19 p.m. ET and lasted until 11:04 p.m. ET, breaking the record of the longest vote in the history of the House. Both bills are now likely to undergo final votes as soon as tomorrow as procedural obstacles have been removed.
In the event that it passes, Trump is likely to sign the GENIUS Act into law this week, which would be a significant victory in the U.S. crypto regulation.
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