milestone! The United States passes three cryptocurrency bills: GENIUS stable currency, Clarity regulation, and anti-CBDC law sent to Trump for signature

The U.S. House of Representatives officially passed three cryptocurrency bills a few hours ago: the "GENIUS" stable currency law, the "CLARITY" regulatory clarity law and the "Anti CBDC" anti-CBDC bill), and Trump is expected to formally sign it on Friday.
(Preliminary summary: U.S. House of Representatives encryption week: "Clarity" regulatory clarity law debuted on Wednesday, "GENIUS" stable currency followed closely on Thursday)
/>(Background supplement: Trump called for a 50% tariff on imported copper and a 200% tax on drugs! Copper prices hit a record high)

Contents of this article

After a fierce offensive and defensive battle in the U.S. House of Representatives, three important cryptocurrency bills, the "GENIUS" stable currency bill, the "CLARITY" regulatory clarity law and the "Anti CBDC" anti-CBDC bill, were passed. White House Press Secretary Karoline Levitt Leavitt said that President Trump is scheduled to formally sign it this Friday, which is regarded as a key milestone in the development of U.S. encryption policy.

The legislative process is thrilling, and intra-party negotiation is the key

Looking back at the legislative process of the three bills, it can be said that there were twists and turns. The House of Representatives passed a procedural vote on the evening of July 16 by a narrow margin of 217 to 212, allowing the bill to enter the debate stage, setting a record for the longest vote since the electronic voting system was launched.

Previously, due to opposition from some Republican lawmakers, the bill failed in the first round of voting. In the end, with Trump's personal intervention and coordination, hardliners in the party reached a compromise with the leadership, allowing the bill to advance. Final:

• The House of Representatives passed the GENIUS stablecoin bill by a vote of 308 to 122, with more than 100 Democratic members including Senate Democratic Leader Hakeem Jeffries defecting.
• The CLARITY Act passed 294-134, with 78 Democrats supporting it despite Democratic Leader Hakeem Jeffries’ dissenting vote.

An overview of the contents of the three major bills: stable currency, regulatory authority, and opposition to central bank digital currency Currency

The full name of the "GENIUS" Stablecoin Act is the "National Innovation Act to Guidance and Establishment of U.S. Stablecoins". It specifically formulates a regulatory framework for stablecoins that are "anchored" to the U.S. dollar. It requires issuers to use U.S. dollars or U.S. short-term debt as reserves and disclose reserve details every month. This not only enhances consumer protection, but also helps enhance the legitimacy of the crypto industry.

The "CLARITY" Supervisory Clarity Act targets the structure of the digital asset trading market, clarifies trading and regulatory rules, and reduces legal gray areas. As for the "Anti CBDC" anti-CBDC bill, it explicitly prohibits the Federal Reserve from directly issuing central bank digital currency (CBDC) to individuals without authorization from Congress to prevent excessive concentration of policy authority.

Bitcoin once again climbed to US$120,000

The market generally interprets that the implementation of the bill will improve industry transparency and compliance, and at the same time attract more institutional funds to enter the market. Bitcoin has also been stimulated, and the price once again exceeded US$120,000 at about 5 o'clock this morning (18), reaching a maximum of US$120,941, rebounding nearly 3% from the low of the day.

However, some industry players are also concerned about whether future regulatory rules and enforcement capabilities can truly balance innovation and risk.