GENIUS Act Advances in U.S. House Amid CBDC Controversy

The U.S. House of Representatives endured a historic 10-hour procedural deadlock before advancing two pivotal cryptocurrency bills: the CLARITY Act and the GENIUS Act. Republican opposition centered on fears of government surveillance via a central bank digital currency (CBDC), delaying progress until leadership pledged to attach anti-CBDC provisions to the National Defense Authorization Act.

The GENIUS Act emerges as a legislative linchpin for digital assets, proposing stablecoin regulation and clearer industry frameworks while explicitly denying the Federal Reserve new CBDC authority. Former President Donald TRUMP has publicly endorsed the bill, signaling potential bipartisan traction. Market participants anticipate the legislation could catalyze institutional adoption by reducing regulatory ambiguity.