Key Takeaways
- The House passed three Trump-backed crypto bills: the GENIUS Act, the Clarity Act, and the Anti-CBDC Act.
- SEC Chair Paul Atkins praised the legislation in an official statement Thursday, calling it a “historic milestone”.
The House of Representatives has successfully passed three significant cryptocurrency bills supported by the Trump administration. These bills include the GENIUS Act, the Clarity Act, and the Anti-CBDC Act.
These bills, which will now be sent to President Trump for approval, aim to establish a regulatory framework for payment stablecoins. They also define the entities authorized to issue these stablecoins, while also prohibiting the Federal Reserve from introducing a central bank digital currency.
SEC Chair Paul Atkins expressed his approval of the bills’ passage in an official statement released by the SEC on Thursday. He described the event as a “historic milestone” for individuals and businesses operating within the digital asset sector.
Atkins congratulated the House of Representatives on passing the GENIUS Act and praised the collaborative efforts of both the House and Senate in developing this vital legislation.
Atkins highlighted the importance of the GENIUS Act in providing clear guidelines for payment stablecoins. He emphasized the need for entrepreneurs to have a clear regulatory framework to operate within, stating that this will facilitate faster, more cost-effective, and secure financial transactions while maintaining robust risk management measures.
He further stated, “Today’s passage of the GENIUS Act is a significant indicator that this Administration is leading the way in fostering innovation by offering the crypto industry clear regulatory guidelines.”