Home Republicans handed three crypto payments, together with the Senate-approved Guiding and Establishing Nationwide Innovation for U.S. Stablecoins (GENIUS) Act, which creates rules on “stablecoins” on Thursday.
Per Forbes:
The Home handed the stablecoin invoice, often known as the Guiding And Establishing Nationwide Innovation for U.S. Stablecoins (GENIUS) Act, in a 308-222 vote, sending it to Trump’s desk for a signature.
The Home accepted the principles for debate for the three payments late Wednesday, clearing a procedural hurdle to tee them up for closing votes Thursday, after the preliminary guidelines vote failed amid a conservative revolt.
Home Speaker Mike Johnson, R-La., instructed reporters “I do,” when requested if he expects all three payments to cross Thursday.
13, together with Reps. Anna Paulina Luna, R-Fla., Scott Perry, R-Pa., Chip Roy, R-Texas, Victoria Spartz, R-Ind., Michael Cloud, R-Texas, and Marjorie Taylor Greene, R-Ga., amongst others, vote in opposition to the preliminary procedural movement Tuesday. Rep. Steve Scalise, R-La., who helps the payments, additionally modified his vote to a “no” to permit him to reintroduce the laws later. They finally modified their votes when the Anti-CBDC Act was merged with the NDAA, leading to a 217-212 vote to advance the payments after the vote remained open for a document 9 hours.
Forward of the votes, White Home Press Secretary Karoline Leavitt was requested by Bitcoin Journal’s political correspondent, Frank Corva, concerning the GENIUS Act and the President’s plan for a de minimis exemption for crypto. She revealed that the President is planning to signal the GENIUS Act tomorrow afternoon.
She additional clarified that the President is against a central financial institution digital foreign money beneath the Fed, which the Home handed a ban for on Thursday.
WATCH:
Corva: I used to be curious to listen to if the President was in favor of eradicating any and all language round central financial institution digital currencies from the GENIUS act, perhaps as a way to get it throughout the road and get it on his desk. After which my second query was about one thing the President spoke about on this room. He talked a couple of $600 de minimis tax exemption for Bitcoin and different crypto spending. So simply needed to get your touch upon this.
Leavitt: Properly, the President did sign his help for a de minimis exemption for crypto, and the administration continues to be in help of that. We’re undoubtedly receptive to it to make crypto funds simpler and extra environment friendly for individuals who search to make use of crypto so simple as shopping for a cup of espresso. In fact, proper now, that can’t occur, however with the de minimis exemption, maybe it may sooner or later, and we are going to proceed to discover legislative options to perform that. As for the central financial institution digital foreign money, and the GENIUS Act, which you famous, has handed by means of Congress and might be despatched to the President’s desk. I consider the home is voting on it. If they’ve it, they need to be passing it. We all know we now have the votes, and we anticipate it to get to the President’s desk. And we’re planning a signing ceremony tomorrow afternoon. All of you’re going to get extra particulars on that. This piece of laws goes to make America the Crypto Capital of the world, and that’s what the President promised. As for a central financial institution digital foreign money, the President opposes that. He made that promise to the American folks on the marketing campaign, and whereas it’s not on this particular piece of laws, he did signal a January government order banning a central financial institution’s digital foreign money. The administration helps Congress’s efforts to codify that government order into regulation, and I consider there might be future items of laws with reference to crypto that might be shifting by means of Capitol Hill. The President appears ahead to signing them, and he appears ahead to signing ceremony this afternoon.
The Home later started voting on the three payments, sending the GENIUS Act to President Trump’s desk, and passing the Digital Asset Market Readability Act, which gives a framework to handle confusion over the categorization of digital belongings, in addition to a invoice barring the Federal Reserve from making a digital foreign money. The latter two payments will now be transmitted to the Senate.
The Readability Act handed alongside occasion strains, with 78 Democrats becoming a member of Republicans.
Home approves the Readability Act, establishing “lanes” for regulation in terms of cryptocurrency. The vote: 294-134. 78 Dems voted sure. All 134 noes have been Dems
— Chad Pergram (@ChadPergram) July 17, 2025
The GENIUS Act handed with 12 Republicans voting in opposition to.
Home passes the GENIUS Act the set up a regulatory framework for “stablecoins” – that are pegged to different currencies. The vote: 308-122. 110 Democrats voted nay. 12 GOPers voted no
— Chad Pergram (@ChadPergram) July 17, 2025
The third invoice banning a central digital financial institution foreign money handed 219-210.
Home approves third crypto invoice, to bar the Fed from making a digital foreign money. The vote: Act 219-210
— Chad Pergram (@ChadPergram) July 17, 2025
In accordance with Barron’s, Benchmark analyst Mark Palmer says, “If handed, the payments may open the floodgates for brand spanking new crypto use instances, company adoption, and institutional funding.”
