WASHINGTON: The US House of Representatives has passed three major cryptocurrency bills, marking a significant legislative victory for the Trump administration. The measures include the CLARITY Act, which aims to clarify regulatory oversight between the SEC and CFTC, and the GENIUS Act, which formalizes rules for stablecoins.
Lawmakers approved the CLARITY Act with bipartisan support, signaling a shift toward clearer regulations for digital assets. The bill now moves to the Senate, where Republicans hold a narrow majority. Meanwhile, the GENIUS Act, which mandates stablecoin issuers to maintain equivalent reserves, is set to go directly to President Trump for signing after Senate approval last month.
“This historic legislation modernizes our payment system and strengthens the US dollar’s global position,“ said Senator Bill Hagerty, a key supporter of the bill. The move follows years of skepticism toward cryptocurrencies, but Trump’s recent embrace of the industry—including launching his own meme coin—has accelerated policy changes.
The Financial Times reports that Trump is also considering opening the $9 trillion US retirement market to crypto investments, alongside gold and private equity. His administration has already taken steps to support the sector, such as appointing crypto advocate Paul Atkins to lead the SEC and creating a federal “Strategic Bitcoin Reserve.”
In a more contentious vote, the House also passed the Anti-CBDC Surveillance State Act, which seeks to block a potential digital dollar over privacy concerns. However, its Senate prospects remain uncertain.
The legislative push reflects growing crypto industry influence, with both parties receiving increased lobbying and campaign contributions. “Clear rules are essential for market stability,“ said Democratic congressman Josh Gottheimer. - AFP
