Historic Progress in Cryptocurrency Regulation as U.S. House Passes Three Bills

On the 18th, the U.S. House passed three significant bills aimed at establishing a comprehensive regulatory framework for the cryptocurrency industry. The Digital Asset Market Clarity Act (CLARITY Act), the Stablecoin National Innovation Policy Establishment Act (GENIUS Act), and the Anti-CBDC National Surveillance Act all cleared the House. The GENIUS Act was passed with a vote of 308 to 122, mandating full collateralization of stablecoins by the U.S. dollar or equivalent liquid assets. It also requires annual audits for issuers with a market capitalization exceeding $50 billion and establishes guidelines for foreign issuance. The CLARITY Act, passed by a vote of 294 to 134, involves the Securities and Exchange Commission (SEC) and Commodity Futures...