Republican lawmakers and President Trump overcame internal conflicts and coordinated different positions to pass three cryptocurrency-related bills in the House of Representatives. However, some of these bills still require further legislative procedures.
The House held long meetings over two days last week. As a result, in the final vote on Thursday, almost all Republican lawmakers except 12, along with over 100 Democratic lawmakers, cast their votes for the "United States Stablecoin National Innovation Guide and Establishment Act (GENIUS Act)". This bill, a key measure for regulating payment stablecoins, was officially signed into law by President Trump approximately 24 hours after its passage.
In contrast, the Digital Asset Market Clarity Act (CLARITY Act) and the Anti-Central Bank Digital Currency Surveillance State Act are still awaiting Senate review. As the US Congress is approaching its August recess, the fate of these two bills will be determined according to the Senate's review schedule.
While the bills have secured some bipartisan support, the CLARITY Act and Anti-CBDC bill are drawing market attention as attempts to clarify regulatory uncertainties in the cryptocurrency industry. Given that President Trump's policy stance is shifting towards "minimizing government intervention" and "market-driven development", there are possibilities of increased regulatory cooperation between the executive and legislative branches in the future.
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