House passes 1st major regulation for crypto industry
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The crypto industry was headed for a landmark moment in the House with three bills that it helped push going to a vote. But a coalition of ultraconservative House Republicans staged a mutiny.
Congress passed the first major crypto legislation in the U.S., marking a major milestone for the digital currency sector. And with President Trump's support, the industry plans to march on.
President Trump signed into law a bill that establishes the first federal framework for dollar-backed stablecoins, a major victory for an industry that has pushed for more favorable oversight in Washington,
House Republicans are struggling with cryptocurrency legislation that they had expected to pass during what they dubbed “crypto week.”
On Tuesday, a dozen conservatives sank a procedural vote to advance three crypto bills, including the GENIUS Act, which would establish a regulatory framework for the $250 billion market for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar.
House Speaker Mike Johnson (R-LA) and members of his conference have been meeting throughout the day to discuss their concerns.
Bitcoin reached all-time high above $123,000 as lawmakers prepare crypto regulatory bills during "Crypto Week," following Trump's pledge to make the U.S. a "bitcoin superpower."
A bullish crypto market meets historic crypto bills as the US advances GENIUS, CLARITY, and Anti-CBDC Acts to lead global digital asset regulation.
Starting July 14, the US House of Representatives began what insiders have dubbed “Crypto Week”, a legislative showdown that could redraw the line between government control and financial freedom in the digital age.
Crypto investors are betting that a slew of long-sought policy wins for the industry, expected next week, could invite new investment in the asset class.
1don MSN
One in five of Trump’s closet allies hold significant cryptocurrency assets - Several cabinet members, including Vice President JD Vance and Treasury Secretary Scott Bessent, have all reported persona