House Advances GENIUS Act and Crypto Bills After Trump Intervention

Congressional Breakthrough on Cryptocurrency Legislation

The US House of Representatives has moved forward with critical cryptocurrency legislation after a dramatic reversal following presidential intervention. The GENIUS Act, CLARITY Act, and Anti-CBDC bills advanced to floor debate after initially facing rejection.

Trump Meeting Changes Congressional Dynamics

The procedural vote passed with a narrow 215-211 margin, completely reversing Monday's 196-222 defeat. The turnaround came after former President Donald Trump personally met with 11 of the 12 holdout Republican members earlier today, securing their crucial support.

All 215 supporting votes came from Republicans, while Democrats unanimously opposed the measure. This partisan split highlights the political divide surrounding cryptocurrency regulation in Congress.

Key Provisions of the Crypto Bills Package

GENIUS Act Framework

The GENIUS Act establishes a comprehensive federal framework for stablecoin regulation. This legislation aims to provide clarity for digital asset issuers and create standardized oversight mechanisms for dollar-pegged cryptocurrencies.

CLARITY Act Regulatory Boundaries

The CLARITY Act seeks to define clear jurisdictional boundaries between the Securities and Exchange Commission and the Commodity Futures Trading Commission. This division of regulatory authority has been a major point of contention in cryptocurrency oversight.

Anti-CBDC Protection Measures

The Anti-CBDC bill would prohibit the Federal Reserve from issuing a central bank digital currency. This legislation reflects concerns about government surveillance and monetary control through digital currencies.

Congressional Leadership Pushes for Swift Action

House Majority Leader Steve Scalise emphasized the urgency of passing the GENIUS Act, warning that delays could jeopardize alignment with the Senate and President Trump's administration. Both chambers and the executive branch currently support the legislation as written.

Next Steps for Cryptocurrency Legislation

House Floor Vote Timeline

The final House floor vote is expected within the next one to two days, likely before the end of the week. The legislation requires a simple majority to pass and move to the President's desk.

Presidential Approval Process

President Trump has publicly endorsed the GENIUS Act and related cryptocurrency bills. Once the House passes the legislation, presidential signature is expected quickly, potentially within days of passage.

Impact on US Cryptocurrency Regulation

This legislative package represents the most significant advancement in US cryptocurrency regulation in years. The bills address key industry concerns including stablecoin oversight, regulatory clarity, and central bank digital currency restrictions.

The advancement of these bills during "Crypto Week" signals potential major changes in how the United States approaches digital asset regulation and oversight.

Political Implications and Future Outlook

The complete absence of Democratic support may present challenges for future cryptocurrency legislation. However, with Republican control and presidential backing, these bills have strong prospects for becoming law.

The successful intervention by Trump demonstrates the political influence surrounding cryptocurrency policy and the importance of executive leadership in advancing digital asset legislation.

Regulatory Clarity for Digital Assets

If enacted, this legislation would provide the cryptocurrency industry with long-sought regulatory clarity. The framework would establish clear rules for stablecoin issuance, define agency jurisdictions, and protect against unwanted government digital currency implementation.

The bills represent a comprehensive approach to cryptocurrency regulation that balances innovation with consumer protection and regulatory oversight.