Today In Crypto: 3 Major Bills Passed In The US House, Here’s What You Should Know

US House of Representatives Three important pieces have passed From the legislation this week, many in the most influencing encryption industry in the week of modern memory.

The bills aim to target the structure of the encryption market, the organization of Stablecoin, and a preventive block against the digital dollar. Although each of them treats a different segment of the ecosystem for encryption, they collectively indicate improving feelings among legislators regarding the growing encryption industry.

The house passes clarity, clear bills and control CBDC

First, the House of Representatives gave a bright green law to the clarity of the digital assets market (clarity), which was passed by by voting from the two parties from 294-134. The draft law was created to determine how to classify encrypted currencies, either as securities under SEC or as goods under CFTC. The approval of this draft law represents a major milestone in the efforts made to bring in organizational clarity to both investors and innovators, which has long been stumbled on the American encryption sector. Although support from about 80 democrats, the bill was not without opposition. Critics like Maxine water representative The legislation argued Harmful gaps that weaken protection can allow retailers.

At the same time, the Genius Law (directed and created the national innovation of Stablecoins) sailed through the Legislative Chamber with greater support. After the Senate was already cleared in June with a 68-30 vote, the House of Representatives added its approval with a score of 308-122. The genius law is strict Handrails around stablecoins, I assume that exporters fully support their symbols with reserves, undergo monthly audits, compliance with the main money laundering frameworks and consumer protection. It crowned her rapid passage with President Trump His signature in the law on July 18, making it the first major federal list designed for digital assets.

The triple approximation of bills is the controversial CBDC case law, which has gone through a narrower margin of 219-210. This bill proposes to prevent the federal reserve from issuing a digital currency to the Central Bank. Supporters of the bill argue that the digital dollar will increase the country’s monitoring of the user’s financing. On the other hand, the legislation reduces the ability of the Federal Reserve to respond Global trends in central banking services, Especially with the continuation of countries like China They offer their CBDCS.

What comes after that?

As is the case of genius that regulates stablecoins already in effect. However, the clarity law and the CBDC bill will now move to the Senate, where their fate is less confident. Interestingly, the dynamics of voting in the House of Representatives show that many Democratic lawmakers are positive in the encryption market.

More than 100 democrats voted positively for the genius law, while 78 supported the law of clarity. The Senate is expected to examine the remaining two draft laws upon recovery. However, there is a great opportunity to approve both bills without hiccups.

The market reaction to the news It was mixed somewhat. Bitcoin continues to trade steadily over $ 118,000. Ethereum rose at first To $ 3,670, but now it returns to about $ 3500.

Distinctive image from Getty Images, Chart from TradingView.com

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