Landmark Crypto Regulation Clears House, Heads
to Trump Amid Political Drama
Published July 18, 2025 | By Gondwana Reader’s– Politics + Tech News
GENIUS Act Passes House in Historic Crypto Vote
WASHINGTON, D.C. — In a stunning breakthrough after days of floor chaos, the House of
Representatives on Thursday passed the GENIUS Act, the first
comprehensive cryptocurrency regulation ever passed by Congress. The bill now
moves to President Trump’s desk, marking a pivotal moment for America’s
digital asset landscape.
The bill passed with bipartisan backing —
308 to 122 — after intense drama from conservative Republicans temporarily
stalled its progress. 206 Republicans and 102 Democrats ultimately voted
in favor, despite resistance from far-right members who had earlier sabotaged a
procedural vote.
Internal GOP Rift, Trump’s Push, and a 10-Hour Floor Freeze
The bill’s journey was anything but smooth.
Earlier this week, hard-right Republicans tanked a procedural vote over
their demand to bundle the GENIUS Act with other digital currency measures —
namely, the CLARITY Act and a controversial ban on a Central Bank
Digital Currency (CBDC).
Tensions escalated Wednesday when procedural
votes were held open for nearly 10 hours. Conservative firebrand Rep.
Andy Harris (R-MD) revealed that a deal had been struck with Trump:
the anti-CBDC measure would instead be tied to the upcoming Defense
Reauthorization Bill.
This strategic maneuver cleared the path for
the GENIUS Act to pass independently — exactly as Trump had urged,
claiming it would "cement America's leadership in crypto innovation."
Did the House Just Pass the Most Important Crypto Bill in U.S. History?
Senate Next, Critics Warn of Conflicts, Consumer Risk
The GENIUS Act now awaits Senate confirmation,
while the House-approved market structure bill — defining whether digital
assets are securities or commodities — also advances separately. Meanwhile, the
anti-CBDC measure, popular among Republicans, passed mostly along party lines.
Still, Democrats raised serious concerns.
Rep. Maxine Waters (D-CA) slammed the bill as a “green light for foreign
interference and corruption,” citing the Trump family’s increasing crypto
investments and potential national security risks.
“The question,” said Rep. Josh Gottheimer
(D-NJ), “is whether we want some rules of the road or no rules at
all.”
While the Senate passed its own stablecoin
bill earlier, its progress was marred by Democratic unease over Trump-linked
crypto dealings. Despite White House denials, critics say the administration’s
crypto-friendly stance could open doors to foreign influence.
What Is the GENIUS Act?
- Full Name:
Government-Enabled Network for Innovation & Unified Standards (GENIUS)
- Purpose: Establishes regulatory oversight for stablecoins,
which are cryptocurrencies tied to the value of traditional assets like
the U.S. dollar.
- Market Impact:
Targets a $250B+ stablecoin market, aiming to bring clarity, consumer
protections, and legal legitimacy to crypto innovation.
- Opposition: Some
conservatives wanted broader protections against central bank-backed
coins, while some progressives argued the bill lacked adequate financial
safeguards.
Wider
Implications:
- White House Crypto Expansion:
Trump’s public push for looser crypto regulations may have political and
financial reverberations.
- Investor Surge: The
Trump family’s crypto holdings have reportedly surged in value —
triggering conflict-of-interest debates.
- Global Signal: The
U.S. steps onto the world stage with a clear stance: crypto isn't going
anywhere — but regulation is coming.
The U.S. Congress has been
actively working on cryptocurrency regulation, with several significant bills
recently advanced. Here are some key legislative decisions and proposals:
· Digital Asset Market Clarity Act: This bill aims to clarify
whether digital assets should be treated as commodities (regulated by the CFTC)
or securities (regulated by the SEC), providing a clearer regulatory framework
for the industry.
· GENIUS Act (Guiding and Establishing National Innovation for U.S.
Stablecoin Act): This legislation focuses specifically on stablecoins, requiring
them to be fully backed by safe assets and potentially allowing banks to issue
their own versions. This bill has already passed the Senate and is moving
through the House.
· Anti-CBDC Surveillance State Act: This proposal seeks to
prevent the Federal Reserve from issuing its own central bank digital currency
(CBDC), citing concerns about government overreach and privacy.
These legislative efforts aim to reduce regulatory uncertainty, foster innovation, and establish a more defined legal structure for the growing cryptocurrency market in the US.
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