Particle.news

Download on the App Store

House Plans ‘Crypto Week’ Votes to Regulate Stablecoins, Market Structure and Ban CBDC

Republicans celebrate unified backing for the measures with Democrats demanding stronger consumer protections plus clearer oversight following years of industry lobbying.

Sparks strike representation of cryptocurrency Bitcoin in this illustration taken November 24, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
Republican presidential nominee and former U.S. President Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, U.S., July 27, 2024. REUTERS/Kevin Wurm/File Photo
Bitcoin tokens and a price chart are seen in this illustration picture taken November 21, 2024. REUTERS/Remo Casilli/Illustration/File Photo

Overview

  • The House will vote this week on three linked bills aimed at establishing federal oversight for digital assets.
  • The GENIUS Act would require stablecoins to hold one-to-one liquid asset reserves and disclose the composition of those reserves each month.
  • The CLARITY Act would classify digital tokens as securities or commodities and expand the Commodity Futures Trading Commission’s authority over the industry.
  • A separate bill would bar the Federal Reserve from issuing any central bank digital currency to address privacy concerns and limit government power.
  • President Trump has indicated he will sign the GENIUS Act into law if it reaches his desk, clearing the way for federal stablecoin regulations.