House Advances Key Crypto Regulatory Bills Amid Long Vote

TLDR

• The House advanced the CLARITY and GENIUS Acts.
• President Trump supports the GENIUS Act for stablecoins.
• No immediate funding reported; focus is regulatory clarity.

The U.S. House of Representatives has advanced the CLARITY Act, GENIUS Act, and the Anti-CBDC Surveillance State Act. This followed the longest procedural vote in the House’s history. The developments are significant for the United States’ evolving crypto regulatory framework.

President Donald Trump actively pushed for the passage of these bills. He expressed his support for the GENIUS Act and called on lawmakers to move the Senate-passed stablecoin bill to his desk soon. Rep. Andy Harris, Chair of the House Freedom Caucus, also coordinated support for the bills.

Details of Legislative Measures and Support

Rep. Marjorie Taylor Greene initially voted “no” but later switched to “yes” after assurance of further provisions regarding central bank digital currencies (CBDCs) was promised. Other representatives like Anna Paulina Luna and Chip Roy were noted critics of the proposals. Their concerns mostly centered around CBDC-related issues.

The Federal Reserve, although not directly involved in the voting, played a crucial role in the discussions. The Anti-CBDC Surveillance State Act directly targets the Fed’s powers. This reflects ongoing concerns about financial surveillance and privacy in digital currency initiatives.

Financial Impact on Cryptocurrencies

The CLARITY Act reaffirms Bitcoin as a digital commodity, helping secure its regulatory status. The GENIUS Act outlines standards for U.S.-issued stablecoins, affecting major dollar-linked assets like USDT and USDC. However, uncertainty remains for Ethereum and related altcoins pending further definitions by the SEC and CFTC.

On-chain data shows no significant changes in total value locked, liquidity, or staking flows. This is expected as the bills are currently in the procedural stage. Reaction in the markets and by stakeholders will likely emerge if and when compliance deadlines are specified.

Comments From Key Participants and Observers

Rep. Andy Harris emphasized protecting Americans from government overreach into financial privacy. Despite initial opposition, Rep. Marjorie Taylor Greene stated that legal measures are necessary to ban CBDCs effectively. Meanwhile, Rep. Anna Paulina Luna hinted at an imminent announcement regarding Fed Chair Jerome Powell, reflecting high-stakes political dynamics.

Past events like the 2021 Infrastructure Bill and the FIT21 Act have influenced the market. They spurred short-term volatility and increased market engagement over time. Current discussions are seen as laying the ground for similar impacts, particularly around regulatory clarity for digital assets.

No Immediate Financial Allocations

No direct funding or grants have been reported in relation to the passage of these acts. The impact is primarily regulatory rather than financial. Industry engagement is anticipated as stakeholders assess how this new framework might affect compliance, market structure, and stablecoin issuance.

Cryptocurrency assets likely to be affected include Bitcoin, Ethereum, and major stablecoins such as USDT, USDC, and DAI. The regulatory clarity from these acts may indirectly influence DeFi governance tokens and Layer 1 and Layer 2 protocols, depending on classification and oversight directions.

Ongoing Developments in Crypto Regulations

The passage of these bills signals a shift towards clearer crypto regulations and increased federal oversight. The Anti-CBDC provisions mark a clear opposition to Federal Reserve initiatives, reflecting concerns over centralized programmable money. Further guidance from regulatory bodies like the SEC and CFTC is expected.

The community and developer sentiment remains active on social media platforms. While no significant spike in developer activities has been noted yet, the focus is expected to grow once the final regulatory text is available and compliance timelines are established.

For more legislative details, refer to House Bill H.R. 3633 Overview and Legislative Details and House Bill H.R. 1919: Summary and Legislative Purpose.