Congress Passes Landmark Crypto Bills, Including Stablecoin Regulations and CBDC Ban

It was a major week for the cryptocurrency industry as the U.S. House of Representatives passed a trio of bills intended to bring regulatory clarity to digital assets. Dubbed “Crypto Week” on Capitol Hill, the legislative momentum includes the regulation of stablecoins, the clarification of agency oversight over cryptocurrencies, and a block on central bank digital currency distribution.

The most notable development came with the Genius Act for stablecoins, which has already been signed into law by the president. Passed by the House on Friday and previously cleared by the Senate, the Genius Act establishes clear regulations for stablecoin issuers, requiring one-to-one reserves and setting strict operational standards.

The House also passed the Clarity Act, aimed at defining the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in overseeing different aspects of the crypto market. The bill addresses long-standing confusion within the industry over regulatory jurisdiction and is expected to encourage further innovation and investment. The Clarity Act now heads to the Senate.

Privacy advocates scored a win with the passage of the Anti-CBDC Surveillance State Act, a bill that would prevent the Federal Reserve from directly issuing a central bank digital currency (CBDC) to the public. Supporters argue that a CBDC could pose serious risks to financial privacy and lead to government overreach. This legislation will also face debate in the Senate.

The crypto community has long pushed for regulatory transparency. With one bill signed into law and two more pending Senate review, the momentum marks a pivotal shift in the U.S. approach to digital finance.

Stay tuned every Tuesday on the NBC Palm Springs 6 p.m. newscast for continued updates from Crypto Fitz.

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