House Republicans are advancing three cryptocurrency-focused bills targeting stablecoin oversight, central bank digital currency restrictions, and regulatory jurisdiction clarity. The legislative push faces significant resistance from Democratic leaders, highlighting deepening partisan divisions over digital asset governance.
The proposed GENIUS Act establishes a regulatory framework for payment stablecoins, with recent amendments accelerating its legislative progress. Concurrently, the Anti-CBDC Surveillance State Act aims to prohibit the creation of a U.S. central bank digital currency, citing privacy preservation concerns. A third bill, the CLARITY Act, seeks to expand the Commodity Futures Trading Commission’s authority over digital assets to address regulatory ambiguities.
Prominent Democrats including Maxine Waters and Stephen Lynch oppose the measures, warning they could weaken financial oversight mechanisms and create potential for market abuse. The divide reflects contrasting priorities: Republicans emphasize innovation facilitation and regulatory certainty, while Democrats prioritize consumer safeguards and systemic financial stability.