House Passes ‘Crypto Week’ Bills, Sending GENIUS Act to Former President Trump’s Desk
By Andrew Kessel | Updated July 17, 2025, 6:46 PM EDT
In a significant legislative move signaling a shift in U.S. cryptocurrency policy, the House of Representatives voted on Thursday to approve a trio of bills aimed at regulating and fostering digital asset innovation. Among these, the GENIUS Act, which sets a framework for private companies to issue stablecoins, has now been forwarded to former President Donald Trump for his signature after successfully passing both chambers of Congress.
Advancing Trump’s Crypto Policy Agenda
These bills mark the latest milestone in advancing Trump’s administration’s expressed goal of transforming the United States into the global leader in cryptocurrency innovation. Throughout his presidency and subsequent political engagements, Trump has emphasized the desire to establish the U.S. as “the crypto capital of the world,” promoting deeper integration of digital assets within the national economy.
Having cleared the Senate last month, the GENIUS Act’s passage in the House now places it squarely on Trump’s desk, where he is anticipated to sign it into law. This act provides a regulatory pathway for private businesses to legally issue stablecoins — cryptocurrencies pegged to traditional currencies such as the U.S. dollar — thereby encouraging growth in digital payments and blockchain services.
Additional Legislation: CLARITY Act and Anti-CBDC Surveillance State Act
Alongside the GENIUS Act, two other critical crypto-related bills secured House approval:
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CLARITY Act: This legislation aims to establish a comprehensive regulatory framework for the broader cryptocurrency market, offering clearer guidelines for entrepreneurs, investors, and consumers navigating the industry.
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Anti-CBDC Surveillance State Act: This bill seeks to prevent the Federal Reserve from issuing a central bank digital currency (CBDC), reflecting concerns about potential privacy infringements and governmental overreach in digital currency issuance.
While both bills have passed the House, they will require Senate approval before moving forward to the president’s desk.
Industry Reaction: A Watershed Moment
Ji Hun Kim, CEO of the Crypto Council for Innovation, hailed the passage of the GENIUS Act as a “watershed moment” for the industry. He added that the CLARITY Act’s progress replaces prior uncertainty with newfound confidence for entrepreneurs, market participants, and consumers alike.
The spotlight on stablecoins has already permeated corporate boardrooms and earnings calls among major financial institutions. JPMorgan Chase, Bank of America, Citi, and others have faced probing questions about their strategic plans involving stablecoins. Notably, retail giants Walmart and Amazon reportedly are considering launching proprietary stablecoins, which could potentially curb the billions of dollars these companies pay annually in credit card transaction fees by enabling customers to use stablecoins for purchases.
Bipartisan Support and Next Steps
Both the GENIUS Act and the CLARITY Act benefited from bipartisan support, with dozens of Democrats joining the Republican majority in voting for these measures. Conversely, the Anti-CBDC Surveillance State Act largely passed along party lines.
As the three bills proceed through the final congressional stages and await presidential approval, stakeholders across the crypto ecosystem are eagerly anticipating the formalization of a regulatory environment poised to shape the future of digital finance in the United States.
For further updates on cryptocurrency legislation and market impact, stay tuned to Investopedia.
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