Congress Passes Final Procedural Vote on Crypto Bills, Members to Make Final Decision on GENIUS Act Today
2025-07-17 07:32:50
Main Idea
The U.S. House of Representatives passed a procedural vote on crypto bills, including the GENIUS Act, with a final vote expected soon, marking a significant step for crypto legislation.
Key Points
1. The House passed a procedural vote on crypto bills with a narrow 217 to 212 margin, setting up a final vote on the GENIUS Act.
2. A compromise was reached to include strong anti-CBDC language in the separate NDAA defense bill to address concerns about the GENIUS Act inadvertently enabling a Central Bank Digital Currency.
3. The GENIUS Act is expected to impact the Web3 space and reinforce the U.S. dollar as the global reserve currency.
4. Ethereum's price surged over 7% in 24 hours, leading a broader altcoin market rally, with the total crypto market cap reaching $3.8 trillion.
5. The final approval of the GENIUS Act could accelerate mainstream adoption of crypto assets, particularly private stablecoins on blockchains like Ethereum, Tron, and Solana.
Description
The three crypto bills including the GENIUS Act, Clarity Act, and Anti-CBDC Act now have a clear path to President Trump’s desk. The inclusion of the anti-CBDC language in the defense bill has reassured more House members to vote for the crypto bills. The final House vote on the GENIUS Act is expected on Thursday. In a narrow 217 to 212 vote, the U.S. House of Representatives has passed a key procedural hurdle, clearing the way for a final floor vote on a slate of crypto bills. A final vote on t...
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