House Approves Three Crypto Bills, Sends GENIUS Act to Trump

In swift action during “Crypto Week,” the House voted 308–122 for the GENIUS Act to regulate issuers, 294–134 for the CLARITY Act defining crypto market structure, and 219–210 for the Anti-CBDC bill barring a Fed digital dollar.

Led by House leadership under Speaker Mike Johnson, lawmakers approved three bipartisan measures: the GENIUS Act to impose reserve and audit standards on issuers; the CLARITY Act to assign primary oversight of digital assets to the CFTC; and the Anti-CBDC Surveillance State Act to prohibit the Federal Reserve from issuing a U.S. central bank digital currency.

Votes concluded the House’s designated “Crypto Week,” a period reserved for digital asset legislation. Congress aimed to establish a clear federal framework for cryptocurrencies, addressing industry calls for regulatory certainty and fulfilling a campaign promise by President Trump to make the U.S. a “crypto capital.”

The GENIUS Act, already passed by the Senate on June 17, requires issuers to back each token one-for-one with high-quality liquid assets and publish regular attestations.

Under the CLARITY Act, crypto exchanges and token projects will know whether they fall under the Commodity Futures Trading Commission’s or the Securities and Exchange Commission’s jurisdiction, reducing legal ambiguity. 

The Anti-CBDC Surveillance State Act, which bars the Federal Reserve from issuing a U.S. central bank digital currency, passed by a narrower margin, reflecting concerns over privacy and financial surveillance. Proponents secured the provision after negotiating to attach it to the National Defense Authorization Act.

Market reaction was muted, with Bitcoin holding around $119,000, as investors anticipated final Senate action on the CLARITY and Anti-CBDC bills and awaited the president’s signature on the GENIUS Act. These measures mark the first comprehensive federal crypto regulatory package, aligning U.S. law with global peers such as the EU’s MiCA framework.