House Passes Crypto Measures With Narrow Margin

In a closely watched vote, the House of Representatives approved several cryptocurrency-related measures endorsed by former US President Donald Trump. The final tally stood at 215-211, marking a significant step forward for the crypto industry.

Behind the Scenes: Trump's Influence

"I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule," Trump revealed on Truth Social. This came after an initial failed vote, showcasing the fluid dynamics of political support.

Key Legislation on the Table

The GENIUS Act aims to bring stablecoins under regulatory oversight, while the CLARITY Act seeks to clarify which digital assets fall under SEC jurisdiction. Additionally, a proposal to restrict the Federal Reserve from issuing a central bank digital currency is also under consideration.