House Advances First Federal Crypto Bills After 9-Hour Talks
House Republicans have cleared procedural hurdles for three landmark cryptocurrency bills following negotiations with conservative holdouts. The legislative package includes a stablecoin framework that could become the first federal digital asset law, having already secured Senate approval.
The centerpiece bill establishes federal oversight for dollar-pegged stablecoins, which have gained traction among traders seeking efficient alternatives to traditional banking. A second proposal clarifies when digital assets qualify as commodities versus securities—a distinction with far-reaching implications for SEC jurisdiction. The third measure, favored by conservative lawmakers, WOULD block the Federal Reserve from developing a central bank digital currency.
