Crypto Bull Week Delivers Wins as US Lawmakers Approve Historic Legislation. | Credit: Bill Clark/CQ-Roll Call, Inc via Getty Images.
Share
Key Takeaways
The US House passed three historic crypto bills last night, marking a new era for crypto.
The stablecoin bill, the market structure bill, and the anti-CBDC bill received bipartisan support.
The GENIUS Act is now headed to Trump’s desk for final signature before enactment.
In a historic move, the United States House of Representatives unanimously passed all three crypto bills on July 17 without hiccups.
To the surprise of many, Republicans and Democrats united and cast their votes along a bipartisan line despite the drama and uncertainty of the past several days.
The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), the key stablecoin bill, passed the House floor vote with a landslide majority of 308-122, with 102 Democrats voting in favor.
GENIUS Act passes House Floor vote. Source:X
The bill is now headed to President Donald Trump’s desk for a final signature to be enacted as an official law. The signing ceremony for the GENIUS Act is set for July 18 in the afternoon at the White House.
The new stablecoin bill sets clear guidelines for reserve requirements for stablecoin issuers, consumer protection, Anti-Money Laundering (AML) rules, transparency, and audits.
Avery Ching, CEO and Co-Founder of Aptos Lab, told CCN:
“The passage of the GENIUS Act marks a pivotal moment for the United States to maintain its role as a global leader in financial innovation. With GENIUS becoming law, the U.S. is stepping boldly into the future of finance with a clear signal that responsible innovation is not only welcome but essential.”
As the first significant piece of independent cryptocurrency legislation in the U.S., this bill represents a significant turning point toward the official regulation of digital assets.
The stablecoin law could transform the stablecoin industry in the U.S. and worldwide, as dozens of institutional giants were awaiting the launch of their stablecoins.
Clarity Act to Establish Comprehensive Crypto Market Structure
The Clarity Act (Digital Asset Market Clarity Act of 2025, H.R. 3633) passed the House floor with a resounding majority.
The Clarity Act passed 294-134, with 78 Democrats voting in favor — more than double the ~35 expected and more than the 71 who voted to pass FIT21 last year.
Clarity Act passes House Floor vote. Source:X
The market structure bill establishes a comprehensive regulatory framework for the broader cryptocurrency market, clarifying the roles of regulatory agencies and defining how digital assets are classified. It proposes to designate the CFTC as the chief crypto market regulator.
The Clarity Act is regarded as the most comprehensive of the three proposals. It is a significant victory for the crypto business, which has long sought regulatory clarity.
It now heads to the Senate for consideration, where its fate is uncertain due to potential Democratic opposition.
The bill may face a difficult time in the Senate. Democrats are expected to fight for more robust consumer protections because of worries about conflicts of interest related to President Trump’s cryptocurrency endeavors.
Anti-CBDC Bill, the Key to Procedural Nod
The Anti-CBDC Act received the closest vote among the three bills and eventually passed with a 219-210 vote, with 2 Democrats voting in favor.
Anti-CBDC Act passes House Floor vote. Source: X
House Republican leaders exploited the annual military policy bill’s must-pass status to affix the anti-CBDC measures to secure its passage.
The bill was also key to the procedural nod for the final House floor vote, as the crypto bills failed to get the nod the first time.
The reason was the lack of an exclusive anti-CBDC bill in the first iteration, which led many lawmakers to believe it might leave room for CBDC development.
The bill prohibits the Federal Reserve from issuing a central bank digital currency (CBDC), citing concerns about government surveillance and control over personal finances.
The bill cleared the House but is not guaranteed to pass the Senate unless it is still attached to the defense authorization bill. The Federal Reserve’s lack of substantial interest in creating a CBDC could lessen the urgency of this legislation.
Market Turns Ultra Bullish: BTC, ETH, XRP Post New Highs
The passage of the three historic crypto bills turned the already bullish market into ultrabullish, as top coins such as Bitcoin, Ethereum, and XRP posted significant gains, touching new highs.
XRP touched its new all-time high of over $3.5, while ETH broke past $3,900 with over 15% daily gains. Bitcoin reclaimed $120,000 after trading below $118,000 for most of the week.
Most altcoins posted double-digit growth over the past 24 hours, and the crypto market reached a $4 trillion valuation for the first time.
Crypto market cap hit $4 trillion. Source: CoinMarketCap
While the GENIUS Act will soon become law, the Clarity Act and Anti-CBDC Act face uncertain futures in the Senate.
The Senate is working on its market structure bill, and Democratic opposition, particularly over consumer protections and Trump’s crypto ventures, could complicate passage.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
