The post Crypto Bills Pass Final House Vote: GENIUS Act Headed to President Trump’s Desk appeared first on Coinpedia Fintech News
The United States House of Representatives has passed all three crypto bills—the Clarity Act, the GENIUS Act, and the Anti-CBDC Act—in a historic landslide victory. The Clarity Act passed the House by 294 to 134, with 78 Democrats voting in favor.
The GENIUS Act passed the House of Representatives in a vote of 308 to 122, with 102 Democrats voting in favor. The Anti-CBDC Act passed the final House scrutiny in a vote of 219 to 210, with 2 Democrats voting in favor.
What’s Next for the Crypto Bills
Following the three crypto bills passing the House of Representatives, the historic crypto week has been fulfilled. The previous drama that had unfolded in the House ended with the bipartisan support of the three crypto bills on Thursday.
The GENIUS Act now heads to President Donald Trump’s desk to be enacted into law on Friday afternoon at the White House. Furthermore, the GENIUS Act passed the Senate earlier this year with huge support from the Republicans.
The Clarity Act and the Anti-CBDC bills are headed to the Senate for further scrutiny and consideration.
Expected Market Implications
The historic passage of the three crypto bills in the House of Representatives, especially the GENIUS Act, ushers in a new era of mainstream cryptocurrency adoption. Furthermore, more institutional investors, especially traditional financial firms, can venture into the stablecoins market with legal confidence.
As a result, the crypto market will attract more institutional capital, thus fueling the ongoing bullish outlook. Already, Bitcoin (BTC) price has rebounded above $120.5k, while Ripple-backed XRP hit a new all-time high of about $3.45 on Thursday.
