In a major step toward integrating cryptocurrency into the mainstream U.S. financial system, the House of Representatives on Thursday passed two landmark bills aimed at establishing clearer rules and greater legitimacy for the digital asset industry — a key priority under President Donald Trump.
Trump has backed the industry’s rise by appointing crypto advocate Paul Atkins to lead the Securities and Exchange Commission (SEC) and launching new crypto ventures himself, including a Trump meme coin. (Bloomberg)
The House overwhelmingly passed the CLARITY Act, which aims to define and streamline the regulatory landscape for cryptocurrencies and other digital assets. It divides oversight between the SEC and the Commodity Futures Trading Commission (CFTC), offering long-sought structure to a sector often plagued by legal ambiguity.
The bill now heads to the Senate, where Republicans hold a narrow majority.
Also passed was the GENIUS Act, which establishes formal guidelines for stablecoins — cryptocurrencies pegged to secure assets like the U.S. dollar. The legislation requires issuers to maintain reserves equal to the value of their digital assets in circulation. Having already cleared the Senate, it now goes directly to Trump for his signature.
The sweeping legislative package comes after years of regulatory skepticism toward the crypto industry. Many lawmakers previously pushed to keep cryptocurrencies at arm’s length from everyday investors. However, that changed with the massive campaign donations from crypto investors in Trump’s most recent presidential bid, which helped drive his policy shift.
Trump has since embraced the sector, establishing a federal “Strategic Bitcoin Reserve” to audit government-held bitcoin seized through law enforcement.
“Donald Trump has, among other moves, appointed crypto advocate Paul Atkins to head the Securities and Exchange Commission (SEC).” (Bloomberg)
Meanwhile, a third bill — the Anti-CBDC Surveillance State Act — is being considered by the House. It aims to block the creation of a central bank digital currency (CBDC) by the Federal Reserve, which Republicans warn could threaten citizens’ financial privacy.
Supporters of the bill argue that a digital dollar would give the federal government unprecedented power to monitor or control individual transactions, raising serious civil liberty concerns.
Although a group of Republicans briefly stalled the crypto bills due to concerns around the CBDC proposal, a compromise was reached that allowed the CLARITY and GENIUS Acts to move forward.
The Anti-CBDC bill faces an uphill battle in the Senate, but if passed, it would also go to Trump for final approval.
This aggressive regulatory overhaul underlines the Trump administration’s commitment to crypto innovation, a stance that has drawn sharp contrasts with past U.S. policies and may reshape the digital financial landscape in the years ahead.