Overview

• On July 17 the House passed the CLARITY Act to establish a clear federal framework for cryptocurrencies.
• The GENIUS Act also cleared the House, mandating stablecoin issuers hold liquid reserves equal to circulating supply.
• Both bills now await Senate approval before heading to President Trump for signature.
• The legislation secured support from 100 Democrats led by Hakeem Jeffries alongside a majority of Republicans, reflecting bipartisan consensus.
• These developments propelled Bitcoin to record highs above $120,000 as investors welcomed the prospect of definitive rules.