In a historic legislative move, the United States House of Representatives has officially passed three major crypto-related bills: the Digital Asset Market Structure Clarity Act, the Genius Act for stablecoins, and the Anti-CBDC Surveillance State Act. The passage of this comprehensive package marks the most significant step toward federal crypto regulation in U.S. history.
Clarity Act: Defining the Rules of the Game
The Clarity Act, which passed with a 294–134 bipartisan vote, provides a long-awaited regulatory framework to distinguish between digital commodities and securities. It grants the Commodity Futures Trading Commission (CFTC) expanded authority over digital asset spot markets, while still maintaining the SEC’s role over securities-based tokens.
This legal delineation aims to unlock innovation by removing regulatory uncertainty and providing crypto developers, startups, and exchanges with clear guidance. Industry leaders, including Coinbase and Kraken, have praised the bill as a foundational shift toward modernizing the U.S. financial system.
Genius Act: Stablecoin Oversight With Guardrails
Passed by a wide margin of 308–122, the Genius Act establishes the first federal framework for payment stablecoins, requiring:
- 1:1 reserve backing in fiat or high-quality liquid assets
- Federal or state-level licensing for issuers
- Mandatory monthly disclosures and third-party audits
The bill seeks to foster trust in dollar-backed stablecoins, potentially enabling them to serve as reliable payment rails in both retail and institutional settings. Notably, the Genius Act had already passed the Senate on June 17, which accelerates its path to becoming law.
Anti-CBDC Act: Defending Financial Privacy
The third bill, the Anti-CBDC Surveillance State Act, is perhaps the most ideologically charged. It prohibits the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) directly to individuals, citing concerns over mass surveillance and state control of private spending.
Introduced by Republican lawmakers but supported by several Democrats, the bill reflects growing bipartisan concerns that a U.S. CBDC could mirror China’s digital yuan model, where financial data is directly tied to government monitoring systems.
Market Impact and Industry Response
Markets responded positively, with Bitcoin holding steady above $119,000 amid anticipation of a friendlier regulatory climate. Altcoins tied to stablecoin infrastructure and DeFi ecosystems also saw a modest surge.
In a rare statement, SEC Chair Paul Atkins congratulated lawmakers for passing the Genius Act, signaling a possible détente between regulators and innovators after years of legal tension.
Meanwhile, analysts note that the U.S. could now position itself as a global leader in crypto policy, catching up with jurisdictions like Switzerland, the UAE, and Singapore, which have embraced digital assets through clear frameworks.
What Comes Next?
The bills now head to the U.S. Senate, where further debate is expected. While the Genius Act is likely to be signed into law swiftly, the Clarity and Anti-CBDC Acts may face intense negotiation.
Still, this week—now dubbed “Crypto Week” on Capitol Hill may prove to be the turning point that institutional investors and crypto entrepreneurs have long awaited.
“The rules are finally being written. And they’re being written in a way that doesn’t kill the industry but allows it to evolve,” said one Washington-based blockchain policy advisor.
For the broader crypto space, this isn’t just about legislation. It’s about legitimacy, infrastructure, and future-proofing an entire asset class.
