Revolution in the crypto market: US House of Representatives passes legislation!

Revolution in the crypto market: US House of Representatives passes legislation!

The US House of Representatives recently passed the Digital Asset Market Clarity Act with 294 votes in favor and 134 against. This law aims to regulate the structure of the crypto market and provide clarity on the rules governing cryptocurrencies in the United States. In addition to the Clarity Act, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act also passed with 308 votes in favor and 122 against. Both bills were brought to a vote on a Thursday during a week Republicans have dubbed “crypto week.”

Nearly 80 Democrats supported the Clarity Act, while over 100 Democrats voted for the GENIUS Act. That legislation is now expected to move forward before Congress's August recess. The Senate has already shown interest in working on the legislation, and Senator Tim Scott has reiterated that they aim to finalize the legislation by September 30th. At the same time, President Donald Trump plans to sign the GENIUS Act at the White House, possibly this week.

Clarity for cryptocurrencies

The Digital Asset Market Clarity Act is intended to significantly simplify the rules for the crypto market in the United States. This measure is designed to provide greater regulatory certainty to both investors and companies. Experts see this as an important step in consolidating the US position in the global crypto market.

President Trump is expected to announce the signing of the GENIUS Act, which sets specific rules for stablecoins. The bill has already received strong support in the Senate. Trump could sign the bill as early as Friday, assuming no changes are made after Senate approval in June.

Further developments

Legislation surrounding the cryptocurrency sector is being actively pushed by Republicans. These have increased pressure to promote intra-party unity in support of the two laws. Additionally, a vote on a package of three bills was postponed due to Republican calls for a ban on the development of CBDCs (Central Bank Digital Currencies). The Anti-CBDC Surveillance State Act will also be voted on in the near future.

The passage of these laws could usher in a new era of cryptocurrency regulation in the United States. Analysts and investors are eager to see how developments unfold in the coming weeks as the story continues to unfold. Further information will be provided as it becomes available. For detailed information about the Clarity Act, read newsbit.de and for current updates about the GENIUS Act, visit cointelegraph.com.