House Advances Cryptocurrency Regulation with CLARITY and GENIUS Acts
The U.S. House of Representatives has passed the CLARITY and GENIUS Acts following a historic voting session marked by prolonged debate. These bills represent a significant stride toward establishing federal oversight for digital assets.
The CLARITY Act seeks to impose clear regulatory standards on the cryptocurrency market, addressing long-standing industry demands for legal certainty. Meanwhile, the GENIUS Act specifically targets stablecoin regulation, emphasizing consumer protection mechanisms.
Legislators also debated the Anti-CBDC Surveillance State Act, which proposes restrictions on government-issued digital currencies. The bill's inclusion in National Defense Authorization Act discussions highlights growing concerns about financial privacy and state overreach.
