Crypto, Bill and Trump
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The House of Representatives voted to regulate digital currencies and protect their owners on Thursday during what many lawmakers called "crypto week."
The step forward came after several Republican holdouts ultimately flipped their votes after receiving assurances from GOP House leaders that one of the measures -- a bill to prevent the Federal Reserve from issuing a central bank digital currency (CBDC) -- would be attached to the must-pass National Defense Authorization Act.
Congress passed the first major crypto legislation in the U.S., marking a major milestone for the digital currency sector. And with President Trump's support, the industry plans to march on.
The House set a new record Wednesday for the longest vote ever held in the chamber in history, breaking a record that had only been set earlier in the month.
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.
The Republican-controlled U.S. House of Representatives cleared key procedural hurdles on crypto legislation on Wednesday, a day after President Donald Trump intervened to save the initiative, paving the way for the first federal law for digital assets.
The House passed a key procedural vote advancing crypto bills GENIUS and Clarity, setting up final debate and votes.
After an earlier setback for the Trump administration when House Republicans failed to advance a key procedural vote on a package of legislation including three crypto measures, President Donald Trump said late Tuesday he has made a deal with Republican members of Congress to advance the legislation on Wednesday.