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yesterday

House Sends Stablecoin Framework to Trump After Crypto Package Passage

Legislators approved the package after President Trump intervened to secure support from holdout conservatives by attaching a CBDC ban to defense spending.

The U.S. Capitol, Wednesday, July 16, 2025, in Washington. (AP Photo/Julia Demaree Nikhinson)
A general view of the U.S. Capitol dome in Washington, D.C., U.S., July 8, 2025. REUTERS/Jonathan Ernst
House speaker Mike Johnson at a press conference on Capitol Hill on July 15. Photo by Kevin Dietsch/Getty Images

Overview

  • On July 17, the House passed the GENIUS Act by a 308-122 vote and approved the CLARITY Act (294-134) and Anti-CBDC Act (219-210), sending the stablecoin bill to President Trump’s desk.
  • The GENIUS Act requires stablecoin issuers to maintain one-to-one dollar reserves and disclose monthly holdings, while the CLARITY Act divides SEC and CFTC oversight and the Anti-CBDC Act bars the Federal Reserve from issuing a digital dollar.
  • Thirteen conservative Republicans had stalled debate by voting down the procedural rule, prompting President Trump to meet holdouts in the Oval Office and strike a deal linking a CBDC ban to must-pass defense legislation.
  • A signing ceremony for the stablecoin framework is planned for Friday, and the market-structure and CBDC ban provisions must clear the Senate or be incorporated into the National Defense Authorization Act.
  • These bills establish the first federal stablecoin regulatory framework, clarify digital-asset governance and prohibit a central bank digital currency while ethics scrutiny of Trump’s ventures continues.