Catenaa, Friday, July 18, 2025- The US House of Representatives yesterday passed sweeping cryptocurrency legislation, clearing a regulatory path for stablecoins and broader digital asset oversight while banning central bank digital currencies.
Lawmakers voted 294-134 in favor of the Clarity Act, which aims to define how agencies like the Securities and Exchange Commission and the Commodity Futures Trading Commission will oversee digital assets.
It also mandates financial disclosures from crypto firms and segregation of customer and company funds.
The vote followed days of procedural turmoil and division, particularly among Republicans, over the treatment of central bank digital currencies (CBDCs) in related bills.
Those concerns were partly resolved by incorporating anti-CBDC language into the must-pass National Defense Authorization Act.
Also passed was the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act by a 308-122 margin.
The bill, which already cleared the Senate, would require stablecoins to be fully backed by US. dollars or similar liquid assets, subject issuers to annual audits, and create standards for foreign issuers. It is expected to reach President Donald Trump’s desk for signature this week.
A third measure, the Anti-CBDC Surveillance State Act, passed narrowly, 219-210, blocking the Federal Reserve from issuing a digital dollar directly to consumers.
The Clarity Act now heads to a Senate divided on approach. Observers expect senators to incorporate elements from existing bipartisan proposals led by Sens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y., with a target deadline of September 30.
