Trump signs Genius Act into law
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Movement on the crypto front at the federal level has the potential to usher in substantial change. Here's what it means for your portfolio.
The House of Representatives voted to regulate digital currencies and protect their owners on Thursday during what many lawmakers called "crypto week."
GENIUS Act, Anti-CBDC Act, and CLARITY Act pass procedural vote 215-211 in Congress after Trump's Oval Office intervention.
Coinbase CLO Paul Grewal criticizes US state agencies for not acknowledging that CLARITY act excludes staking from securities laws.
On Tuesday, a dozen conservatives sank a procedural vote to advance three crypto bills, including the GENIUS Act, which would establish a regulatory framework for the $250 billion market for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar.
The US House advances debates on key US crypto legislation, including bills on stablecoins, digital asset oversight, and anti-CBDC measures.
The House of Representatives passed the GENIUS Act, making it the first major piece of federal legislation to regulate stablecoins.
If passed, the Crypto Week legislation could lead to new ways to use the currencies, corporate adoption, and institutional investment.