Historic Crypto Victory on Capitol Hill
In a landmark moment for the crypto industry, the U.S. House of Representatives has passed three major crypto bills—the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act. The votes, taken on Thursday, represent the largest regulatory win for digital assets to date, delivering long-awaited legislative clarity for stablecoins, digital asset markets, and central bank digital currencies.
The GENIUS Act, which focuses on stablecoin regulation, passed with strong bipartisan support, notching a 308-122 vote. Having already cleared the Senate, the bill now heads to President Donald Trump’s desk. It mandates full U.S. dollar backing for stablecoins, annual audits for major issuers, and sets rules for foreign entities.
House Minority Leader Hakeem Jeffries joined over 100 Democrats in supporting the measure. Lawmakers framed the bill as a way to legitimize crypto as “real money”, addressing long-standing demands for clearer guidelines from both regulators and the private sector.
CLARITY Act Passes with Broader Scope
Shortly after GENIUS passed, the House approved the CLARITY Act—a sweeping framework bill defining how crypto firms must register, disclose, and operate within the existing financial system. It passed 294-134, with 78 Democrats crossing party lines to vote in favor.
However, this bill stirred more controversy than GENIUS. Hakeem Jeffries, despite his earlier support for GENIUS, voted against CLARITY, aligning with lawmakers like Rep. Maxine Waters, who voiced serious concerns.
🚨NEW: The CLARITY Act just passed the House in a vote of 294-134 with 78 Democrats voting in favor — more than double the ~35 expected, and more than the 71 who voted to pass FIT21 last year.
— Eleanor Terrett (@EleanorTerrett) July 17, 2025
This is a really big win for crypto.
Now, onto GENIUS.
🚨NEW: The CLARITY Act just passed the House in a vote of 294-134 with 78 Democrats voting in favor — more than double the ~35 expected, and more than the 71 who voted to pass FIT21 last year.
— Eleanor Terrett (@EleanorTerrett) July 17, 2025
This is a really big win for crypto.
Now, onto GENIUS.
Anti-CBDC Act: Government Oversight Off the Table
The third and perhaps most politically charged bill was the Anti-CBDC Surveillance State Act, which explicitly blocks the Federal Reserve from launching any central bank digital currency (CBDC) without direct congressional approval. It passed with strong Republican support.
Introduced by Rep. Tom Emmer, the legislation bans the Fed from offering digital accounts to individuals, creating programmable money, or even conducting pilot programs. Emmer said the measure ensures that “unelected bureaucrats” can’t roll out tools that may lead to surveillance or financial control.
Industry Cheers, But Health Rumors Cloud Outlook
The crypto community erupted in celebration. David Sacks, a longtime industry advocate, called the passage a “massive win”, and Senator Bill Hagerty, who introduced GENIUS, said the law would modernize U.S. payments and drive Treasury demand.
SEC Chair Paul Atkins also praised the bills, calling GENIUS a “clear rules of the road” moment for blockchain development. He highlighted benefits like faster transactions, reduced risk, and lower costs, while maintaining consumer protections.
However, uncertainty looms over Trump’s health, as the White House confirmed he’s being treated for a chronic vein condition following public appearances with hand bruising. While Press Secretary Karoline Leavitt downplayed the concern, insiders noted that any deterioration in Trump’s condition could unravel the newly passed laws, just as he undid many Biden-era rules after taking office.
Critics Push Back on Regulatory Gaps
Not everyone sees the passage as cause for celebration. Senator Elizabeth Warren—a longtime crypto critic—issued a stern warning.
Whether these new frameworks usher in an era of innovation or overreach remains to be seen. But for now, the crypto industry has never been closer to mainstream legitimacy in the U.S. financial system.
