House Votes to Advance GENIUS Stablecoin Bill, Crypto Market Structure Act
2025-07-16 18:53:31
Main Idea
The U.S. House narrowly advanced the GENIUS Stablecoin Bill and the Digital Asset Market Clarity Act, which aim to regulate stablecoins and clarify crypto market roles for the SEC and CFTC, while also prohibiting the Federal Reserve from issuing CBDCs directly.
Key Points
1. The House voted 215-211 to advance the GENIUS Act, a landmark cryptocurrency legislation.
2. The Digital Asset Market Clarity Act establishes comprehensive crypto market regulations and clarifies the roles of the SEC and CFTC.
3. The legislation includes a measure to bar the Federal Reserve from issuing central bank digital currencies (CBDCs) directly.
Description
The U.S. House narrowly advanced landmark cryptocurrency legislation Wednesday, including a stablecoin regulatory framework and market structure rules, after a controversial procedural vote. By a 215-211 vote, the House agreed to move forward with the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which creates federal oversight for stablecoin issuers and could reach
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