Despite being rejected yesterday, the House of Representatives voted to pass the GENIUS, CLARITY, and Anti-CBDC bills today with a narrow margin.
However, the battle is not over, as these bills will have to go through multiple hearings and votes in Congress before becoming law. Notably, support from the Democratic Party seems to have disappeared, which could be an obstacle in the future.
The House Moves Forward with GENIUS
Crypto Week has arrived, and many important regulations are being discussed. Yesterday, the industry faced a surprising setback when the House of Representatives voted against the GENIUS and CLARITY Acts along with an Anti-CBDC bill. However, the President called for support from GOP members in a meeting last night, and a vote was narrowly passed today:
This House vote is certainly a good sign, but it is still unclear how the GENIUS Act will proceed in upcoming votes. In its current version, the bill has not received any support from the Democratic Party, although many Senators supported it in May. Amid the collapse from the left and major defectors from the right, these bills may face trouble in the future.
