cryptocurrency, the legislation
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Congress delivered a watershed victory for the crypto industry on Thursday, passing the first federal legislation to regulate stablecoins and clearing the way for broader use of the technology in everyday finance.
On Tuesday, a dozen conservatives sank a procedural vote to advance three crypto bills, including the GENIUS Act, which would establish a regulatory framework for the $250 billion market for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar.
The House this week took up a trio of bills that would establish a federal framework for regulating the cryptocurrency industry. One of the measures cleared Congress and is on its way to enactment.
Trump signed into law the GENIUS Act on Friday – a landmark piece of legislation that establishes federal regulations surrounding digital currency.
The House is considering bills to provide regulatory clarity for cryptocurrency and the digital assets industry, including the GENIUS Act for stablecoins and the CLARITY Act.
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On Thursday, the House passed a bundle of crypto bills, sending one, the stablecoin legislation known as the GENIUS Act, to President Trump's desk. It is expected to be sign into law Friday afternoon and become the first ever piece of major crypto legislation in the U.S.
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Intelligencer on MSNCongress Just Injected Crypto Directly Into the Most Stable Part of the EconomyThere would be a great irony if cryptocurrency — which was created in 2008 to provide an alternative to the mainstream financial system that had just failed — led to another economic crash. But that is what a handful of experts fear could happen now that Congress has passed the GENIUS Act, a major piece of crypto legislation.
Bitcoin price traded down while XRP, Ether, Solana and Dogecoin soared Thursday. Key legislation for crypto, including the GENIUS and CLARITY Acts are currently moving through Congress.
The GENIUS Act could open up alternative pathways for financial investments for Black Americans, who disproportionately invest in crypto.
The US crypto industry is celebrating as Congress passed three major bills in its “Crypto Week” legislative bonanza.