[Photo Credit: By Kevin McCoy, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=106463]

House Passes Major New Crypto Bill

In a major win for digital innovation and financial sovereignty, the Republican-led House of Representatives passed three significant pieces of legislation on Thursday designed to cement America’s leadership in cryptocurrency while safeguarding consumer privacy from government overreach.

With bipartisan support, the House approved the GENIUS Act in a 308-122 vote. The bill, which had already cleared the Senate 68-30, establishes a regulatory framework for stablecoins — digital tokens typically backed by the U.S. dollar — and now heads to the White House for expected signature by President Donald Trump.

“The GENIUS Act will cement U.S. dollar dominance, protect customers, drive demand for U.S. Treasuries, & ensure that digital asset innovation happens in the U.S., not overseas,” said Sen. Bill Hagerty (R-TN), the bill’s sponsor.

The legislative momentum didn’t stop there. Lawmakers also passed the Digital Asset Market Clarity Act of 2025, authored by Financial Services Chairman French Hill (R-AR), in a 294-134 vote.

The bill directs the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to establish a clear regulatory framework for digital commodities. The aim is to remove bureaucratic confusion and allow American blockchain developers and crypto firms to operate under coherent federal guidelines.

Rep. Bryan Steil (R-WI), chair of the Crypto Subcommittee, praised the coordinated legislative package, stating on X, “The Web 3 race is here, implementing clear regulations with CLARITY and GENIUS will protect consumers and ensure U.S. leadership in digital assets.”

Perhaps the most fiercely debated bill — the Anti-CBDC Surveillance State Act — passed by a narrower margin, 219-210. The measure blocks the Federal Reserve from issuing a central bank digital currency (CBDC) or using one to enforce monetary policy. Conservatives have argued that a U.S. CBDC could open the door to invasive financial surveillance, mirroring models used by authoritarian regimes such as the Chinese Communist Party.

“Attaching our Anti-CBDC Surveillance State Act to the NDAA will ensure unelected bureaucrats are NEVER allowed to trade Americans’ financial privacy for a CCP-style surveillance tool,” House Majority Whip Tom Emmer (R-MN) said. Emmer added that the effort aligns with Trump’s America First agenda. “Our legislation is a key piece of our America First agenda, and we will deliver.”

The inclusion of the anti-CBDC measure in the must-pass National Defense Authorization Act came after conservative holdouts forced a record-breaking nine-hour-and-45-minute rule vote earlier this week — a sign of just how seriously Republicans are treating financial privacy in the digital age.

While many Democrats opposed the broader package, the GENIUS Act saw significant bipartisan backing. Still, leading Democrats voiced sharp criticism, accusing Republicans of advancing legislation that could benefit Trump-aligned interests.

“The GOP crypto bills don’t just fail to protect consumers, they greenlight Trump’s billion-dollar crypto grift and invite the next financial crisis,” claimed Rep. Maxine Waters (D-CA), the top Democrat on the Financial Services Committee.

Some House Republicans also expressed concern that the GENIUS Act could inadvertently lay groundwork for a CBDC if not paired with the Anti-CBDC bill — a risk the GOP seeks to head off with Trump’s current executive order opposing such a currency.

Together, the bills represent a bold step by congressional Republicans to secure America’s financial future while drawing a clear line against what they see as creeping federal control over private money.

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