Crypto Regulations Transform: U.S. House Passes Watershed Bills

The U.S. House of Representatives has passed a bill establishing a regulatory framework for stablecoins, marking a pivotal development for the crypto industry. The bill now moves to President Donald Trump's desk for signing, a step widely anticipated given the administration's historical engagement with cryptocurrency policies.

The regulation, known as the Genius Act, received bipartisan support alongside another bill, the Clarity Act, which sets out to define when cryptocurrencies are securities or commodities. The Clarity Act seeks to clarify the jurisdiction of the Securities and Exchange Commission over digital assets. Both bills aim to offer clearer guidelines for the expanding crypto market.

The House additionally considered measures banning the issuance of a central bank digital currency, stirring debates over privacy concerns. As these legislative efforts advance to the Senate, the broader implications for U.S. financial regulations on cryptocurrency continue to unfold. This juncture is recognized as a defining moment in shaping digital asset policy frameworks.

(With inputs from agencies.)