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The first two of three bills on Republicans’ crypto agenda passed with bipartisan support despite continued pushback from Democrats over claims of corruption and conflicts of interest.
After delays in Congress over Republican concerns with central bank digital currencies (CBDCs), the US House of Representatives has passed its first two pieces of crypto legislation of the week.
In a Thursday House session, lawmakers voted 294-134 to pass the Digital Asset Market Clarity (CLARITY) Act, a bill aimed at establishing a market structure for cryptocurrencies, and 308-122 in favor of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. Almost 80 Democrats voted yes for the CLARITY Act and more than 100 for the GENIUS Act, with the bills expected to move through the chamber before Congress breaks for its August recess.
Thursday vote on the CLARITY Act. Source: US House of RepresentativesRepublicans had been calling for everyone in their party to support the bills as part of their “crypto week” plans — a nod to US President Donald Trump’s stated intention to enact his crypto agenda quickly.
However, on Wednesday, voting on consideration of a package, including the three bills, stalled for hours after some Republicans held out for a carve-out to ban the development of a CBDC in the US.
The House is expected to take up a vote soon on the Anti-CBDC Surveillance State Act. Trump reportedly planned to sign the GENIUS Act by Friday, assuming there were no amendments to the bill after it passed the Senate in June.
This is a developing story, and further information will be added as it becomes available.
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