Trump to sign landmark crypto bill, GENIUS Act
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Movement on the crypto front at the federal level has the potential to usher in substantial change. Here's what it means for your portfolio.
The House of Representatives voted to regulate digital currencies and protect their owners on Thursday during what many lawmakers called "crypto week."
If passed, the Crypto Week legislation could lead to new ways to use the currencies, corporate adoption, and institutional investment.
GENIUS Act, Anti-CBDC Act, and CLARITY Act pass procedural vote 215-211 in Congress after Trump's Oval Office intervention.
The US House advances debates on key US crypto legislation, including bills on stablecoins, digital asset oversight, and anti-CBDC measures.
After clearing a procedural hurdle in the House of Representatives by a 215-211 vote on 16 July, the GENIUS Act now heads to floor debate, having already secured bipartisan Senate
The Genius Act, which passed in the Senate last month with broad bipartisan support, would create rules of the road for the $250 billion market for stablecoin, a type of cryptocurrency. The bill is also part of a broader push by Republican lawmakers and President Trump to support the cryptocurrency industry and ease regulations around the emerging sector.
The Clarity Act (HR 3633), the legislation that aims to provide guidance on how different digital assets are regulated and which agency has oversight, is