House approves GENIUS and CLARITY Acts, plus an anti‑CBDC provision, setting clear stablecoin and crypto rules and restricting Fed digital currency plans.
On Thursday afternoon, House legislators in Washington were scheduled to meet to discuss the passage of bills that would establish a more comprehensive regulatory framework for cryptocurrencies.
The legislation will now be sent to the White House, where it is anticipated to be signed by US President Donald Trump soon.
The Clarity Act establishes a framework for the classification of digital assets as either commodities, which are regulated by the Commodity Futures Trading Commission, or securities, which are under the jurisdiction of the Securities and Exchange Commission.
The digital assets industry has achieved a significant victory with the passage of these bills, the first significant crypto laws to be implemented in the United States, in a year dominated by crypto.
The Anti-CBDC Act is designed to limit the development of cross-border digital currencies, or CBDCs. CBDCs have been the subject of extensive debate in the United States, as numerous other countries have implemented them for global trade.
Finally, the stablecoin domain is fundamentally supported by the GENIUS Act. This act facilitates the integration of stablecoins into the existing financial framework and regime.
The United States is set to implement new cryptocurrency laws shortly.
The United States administration has officially supported the cryptocurrency domain under Donald Trump. Trump has provided the cryptocurrency sector with significant protection and has expressed his desire for the United States to assume a leadership role in the global regulation of digital assets.
This development has resulted in establishing a new infrastructural alignment that will be crucial in determining the function of cryptocurrency in the current global financial system.
Having been enacted, these bills can potentially provide the cryptocurrency sector with a much-needed legal identity structure and format, thereby providing a credible boost.
This will serve as an incentive for other nations to emulate the legal framework of the United States, potentially resulting in a cascade of events that could augment the number of consumers engaging with the cryptocurrency sector.
Several experts anticipate that Trump will sign the approved crypto legislation into law this Friday, presumably in its entirety.
His administration has been predominantly pro-crypto, and these measures would represent the most significant strides toward establishing the United States as “The Crypto Capital of the World.”
