US House Advances Landmark Crypto Legislation in Regulatory Push

The US House of Representatives is poised to make history this week with votes on three pivotal cryptocurrency bills. The Digital Asset Market Clarity Act, scheduled for Wednesday, would establish the first comprehensive regulatory framework for digital assets, delineating oversight between the SEC and CFTC. Mature blockchain projects could gain exemptions from certain securities registration requirements.

Thursday's vote on the GENIUS Act marks a watershed moment for stablecoins, mandating one-to-one dollar reserves for issuers. Meanwhile, the Anti-CBDC Surveillance State Act, also up for Wednesday consideration, WOULD bar the Federal Reserve from developing a central bank digital currency. Senate Banking Committee Chairman Tim Scott has committed to finalizing companion legislation by September 30.