US House Votes on 2 Crypto Bills Amid CBDC Debate

- US House approves the CLARITY and GENIUS Acts, advancing crypto legislation. - Bipartisan support secured for bills during Republican "crypto week" initiative. On July 17, 2025, the U.S. House of Representatives passed two significant bills to establish regulatory frameworks for digital assets and stablecoins. The Digital Asset Market Clarity (CLARITY) Act and the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act both received bipartisan support, marking a key development for the cryptocurrency industry. According to CoinDesk on July 17, the House approved the CLARITY Act by a vote of 294-134. This bill seeks to define jurisdictional boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to oversee digital assets, aiming to provide regulatory clarity and address a long-standing challenge for the growing cryptocurrency sector. The House also passed the GENIUS Act with a vote of 308-122. This act focuses on regulating stablecoins—digital currencies pegged to stable assets like the U.S. dollar—by setting out guidelines for issuers to ensure transparency, consumer protection, and financial stability. The Senate has already approved the GENIUS Act, which now proceeds to the President’s desk for a final signature. These legislative milestones were part of the Republican “crypto week” initiative, which aims to advance cryptocurrency policy. Both bills garnered support from lawmakers across party lines, reflecting a shared acknowledgment that the emerging digital asset market needs clear rules. However, the legislative process faced a temporary delay when a group of conservative Republicans demanded the inclusion of a ban on a central bank digital currency (CBDC) during a procedural vote. Lawmakers reached a compromise to move forward and expect to vote on a third bill, the Anti-CBDC Surveillance State Act, in the near future. The Senate will now consider the CLARITY Act, while the GENIUS Act, having already passed the Senate, awaits the president's signature. According to CoinDesk, as of 15:00 UTC on July 17, Bitcoin (BTC) was trading at $31,527, with its 24-hour trading volume up 1.8%. Meanwhile, Ethereum (ETH) was trading at $2,047, with its volume up 2.1%.