US House revives Crypto Week agenda, advances three crypto bills

The US House of Representatives is pushing forward with three cryptocurrency bills after an initial setback. Lawmakers voted 215 to 211 to advance the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act), which aims to create a regulatory framework for stablecoins pegged to the US dollar. The House also agreed to consider the Digital Asset Market Clarity Act, designed to clarify the roles of the SEC and CFTC in overseeing digital assets. Additionally, a bill to prevent the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals will be voted on. These votes follow a failed attempt on Tuesday due to Republican defections concerned about the CBDC provisions within the GENIUS Act. Democrats are largely against these bills, expressing concerns about deregulation, consumer protection, and the Feds authority.