16.07.2025 22:47

Three significant cryptocurrency bills successfully navigated procedural obstacles in the US House of Representatives on Wednesday, following a Tuesday setback. The GENIUS Act, the Clarity Act, and the Anti-CBDC Act, which had previously failed to garner enough votes, secured passage with a narrow 215 to 211 margin. This turnaround marked a decisive shift, contrasting sharply with Tuesday's 196 to 223 defeat.

President Trump's intervention proved pivotal in this legislative turnaround. His direct engagement with Republican House members, many of whom had initially opposed the bills, led to a crucial agreement. These dissenting Republicans, primarily focused on strengthening anti-CBDC regulations, ultimately reversed their stance after negotiations with the President. Representative Andy Harris explicitly stated that the House Freedom Caucus would support the rule following this agreement, secured the previous night, adding that the Rules Committee would subsequently add robust anti-CBDC stipulations to the Clarity Act.

The passage of these bills holds significant implications for the cryptocurrency market, particularly impacting the altcoin sector, with Ethereum (ETH) experiencing a notable surge. Institutional investors, specifically, are anticipated to flock to Ethereum and other Layer-1 blockchains, driven by the opportunity to develop fiat-backed stablecoins within a clearly defined regulatory framework. This positive market response is evident in Ethereum's price, which jumped 6.9 percent within the past 24 hours, trading above $3,308 at the time of writing. The overall cryptocurrency market capitalization also saw a 3 percent increase, reaching approximately $3.8 trillion. The bills' progress, especially with the Genius Act already having Senate approval, now await Presidential signature.