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#Crypto Legislation Voting Week# Historic vote from the US House of Representatives: Crypto bills advance to final stage.
The US House of Representatives has passed a procedural resolution enabling a vote on three key cryptocurrency bills. With this vote, approved by a vote of 217 yeas to 212 nays, the bills move on to the final vote. The bills include stablecoin regulations and crypto market structure.
This decision followed approximately nine hours of deliberation, marking the longest procedural vote in the House's history. The decision cleared the way for final votes on the GENIUS Act, which covers stablecoin regulation, and the CLARITY Act, which regulates crypto market structure.
The vote was finally completed, securing the support of eight conservative Republican lawmakers who had previously voted "no." This support was made possible by integrating the bill into the National Defense Authorization Act. This strategy aimed to ensure its passage as mandatory defense legislation.
GENIUS Act Reaches Final Stage
The GENIUS (Guiding and Establishing National Innovation for U.S. Stablecoins) Act, approved by the House of Representatives, aims to establish a framework for regulating stablecoins in the U.S. It has already passed the Senate and is the first major cryptocurrency bill that could be submitted for President Donald Trump's signature following a House vote.
The CLARITY Act aims to fill long-awaited legal gaps in the industry by clarifying the division of authority between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding cryptocurrency regulation.
Trump stepped in, and the opposition withdrew.
In the initial vote on Tuesday, three bills were defeated after 12 Republicans voted "no." Figures like Marjorie Taylor Greene had opposed the bill, arguing that its provisions contained ambiguities. However, majority support was secured after President Donald Trump met with opposition lawmakers at the White House on Tuesday night.
The first phase of the vote, which concluded 215-211 on Wednesday, reopened with the sudden withdrawal of support from some lawmakers. After approximately nine hours of additional deliberations, the House leadership was regained, and the resolution was officially adopted. Trump's direct involvement in the negotiations was the most critical development shaping the process.
Democrats Strongly React
Democrats, however, harshly criticized the legislation. Maxine Waters, ranking member of the House Financial Services Committee, called the GENIUS and CLARITY bills "dangerous," arguing that they paved the way for Trump's cryptocurrency ventures. Democrats issued a press release specifically emphasizing the need to oppose the CLARITY bill.
According to the schedule announced by House Majority Leader Steve Scalise, a vote on the GENIUS Act is expected on Thursday. The CLARITY bill will be on the House floor next week and then moved to the Senate. If enacted, the GENIUS bill would be the first major cryptocurrency regulation in US history.