House Advances GENIUS, Clarity, and Anti-CBDC Bills After Trump-Backed Turnaround

Despite rejecting them yesterday, the House narrowly voted to approve the GENIUS, CLARITY, and Anti-CBDC bills today.

Still, the fight isn’t over, as these bills will face more hearings and Congressional votes before becoming law. Critically, Democratic support has apparently vanished, which may present a future obstacle.

House Moves Forward with GENIUS

Crypto Week is here, and several important pieces of regulation are therefore up for debate. Yesterday, the industry faced a surprise upset as the House voted against the GENIUS and CLARITY Acts alongside an Anti-CBDC bill. However, the President rallied GOP holdouts in a meeting last night, and a vote narrowly passed today:

This House vote is certainly a good sign, but it’s still unclear how the GENIUS Act will fare in future votes. In its current incarnation, the bill had zero Democratic support, even though several Senators boosted it in May. Between this collapse from the left and major defectors from the right, these bills may face future troubles down the line.

The post House Advances GENIUS, Clarity, and Anti-CBDC Bills After Trump-Backed Turnaround appeared first on BeInCrypto.