Fate of crypto, CBDC bills unclear as US Congress heads into recess
Lawmakers are expected to break in a matter of days, but there are still items on the legislative agenda to address, including two crypto bills passed by the House.
US Republican lawmakers and President Donald Trump were able to overcome inter-party disputes to get three crypto bills passed through the House of Representatives last week, but some of the legislation still has a ways to go before it becomes law.
After two long sessions in the House last week, on Thursday all but 12 Republicans and more than 100 Democrats voted yay on the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, a bill to regulate payment stablecoins, which Trump signed into law about 24 hours later.
The other two bills, the Digital Asset Market Clarity (CLARITY) Act and the Anti-CBDC (central bank digital currency) Surveillance State Act, will head to the Senate for consideration as both chambers prepare to break for an August recess.