The United States House of Representatives has made history by passing all three crypto bills—the Clarity Act, the GENIUS Act, and the Anti-CBDC Act—in a resounding victory. The Clarity Act was approved by a vote of 294 to 134, with 78 Democrats showing their support.
Similarly, the GENIUS Act sailed through with a vote of 308 to 122, with 102 Democrats backing the bill. On the other hand, the Anti-CBDC Act faced a closer vote, passing by a margin of 219 to 210, with only 2 Democrats in favor.
The passage of these bills marks a significant milestone for the crypto industry in the United States. It signals a shift towards greater clarity and regulation in the crypto space, paving the way for increased mainstream adoption and investment.
The next steps for these bills involve further scrutiny and consideration in the Senate. The GENIUS Act, in particular, is set to be enacted into law by President Donald Trump at the White House on Friday, following its earlier approval in the Senate.
The impact of these legislative developments on the crypto market is expected to be substantial. The passage of the bills is likely to boost investor confidence and attract more institutional capital into the market. This, in turn, could fuel a bullish trend in cryptocurrency prices.
Already, we have seen positive movement in the market, with Bitcoin price rebounding above $120.5k and XRP hitting a new all-time high of around $3.45. These developments indicate a growing interest in cryptocurrencies and a promising outlook for the market.
Overall, the passage of the three crypto bills in the House of Representatives sets the stage for a new era of crypto regulation and adoption in the United States. It is a significant step towards legitimizing and integrating cryptocurrencies into the mainstream financial system.