Crypto, First Major and Stablecoin Bill
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The House is considering bills to provide regulatory clarity for cryptocurrency and the digital assets industry, including the GENIUS Act for stablecoins and the CLARITY Act.
Crypto week kicks off on Capitol Hill, with lawmakers set to debate a handful of bills that sources say could have a big impact on the market.
A dozen House Republicans bucked Trump and Speaker Mike Johnson to prevent the legislation from advancing on the floor -- joining the entire Democratic caucus -- and, at least temporarily, freezing activity in the House. The final tally was 196-223.
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.
The U.S. House of Representatives appeared poised to pass key crypto legislation on Thursday, including the creation of a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins,
Bitcoin rose to over $120,000 on Monday, breaking the cryptocurrency’s all-time high as Congress considers several pieces of pro-crypto legislation. The digital currency peaked at around $122,600 mid-afternoon Monday before declining to around $116,