The U.S. House of Representatives has cleared a trio of groundbreaking cryptocurrency bills in a decisive move that reshapes the future of digital finance. In a resounding 308–122 vote, lawmakers passed the GENIUS Act on July 17, 2025, establishing the first federal framework for stablecoins—digital tokens backed by assets like the U.S. dollar. This legislation now moves to the president and is expected to be signed into law.
The GENIUS Act mandates that stablecoin issuers hold liquid assets such as dollars or Treasury bills and disclose their reserves monthly. It paves the way for banks, credit unions, and fintechs to issue digital currencies under clear rules designed to boost consumer confidence and streamline everyday transactions. Major financial institutions have already signaled strong interest in entering this newly regulated space.
This action was part of what lawmakers referred to as “Crypto Week,” a coordinated push to advance comprehensive digital asset policy. Alongside the GENIUS Act, two other bills were passed. The CLARITY Act, approved by a 294–134 vote, sets clear boundaries for regulatory authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Another bill, narrowly approved with a 218–210 vote, blocks the Federal Reserve from launching a central bank digital currency, citing privacy and surveillance concerns.
Supporters across party lines emphasized that these legislative steps aim to protect consumers, attract capital, and position the U.S. as a global leader in financial technology. One congressional leader described the effort as a major step toward making the U.S. a frontrunner in the world of digital payments and crypto innovation.
President Donald Trump has openly supported these measures, reinforcing his campaign promise to transform the United States into a global hub for cryptocurrency. His backing has sparked renewed energy in both the banking and blockchain sectors, with several major institutions already outlining plans to issue stablecoins within the new legal framework.
Despite the momentum, critics have voiced concerns over potential conflicts of interest due to Trump’s financial ties to crypto-related ventures. Some lawmakers argue that without stronger safeguards, the laws could lead to unchecked growth or ethical dilemmas.
With the Senate having already passed the GENIUS Act with a 68–30 vote, the House’s approval now sends the full legislative package to the White House. The decision marks the culmination of months of debate, signaling a turning point in the U.S. government’s approach to digital currencies.
If enacted, these laws will define how stablecoins are issued and regulated, assign clearer regulatory roles across federal agencies, and limit the Federal Reserve’s involvement in creating its own digital currency. This marks the most significant federal endorsement of the cryptocurrency industry to date—shifting from a landscape of uncertainty to one of structured opportunity.
