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In a significant development for the digital asset industry, the U.S. House of Representatives—led by a Republican majority—has cleared critical procedural hurdles to advance landmark cryptocurrency legislation. The move comes shortly after former President Donald Trump intervened to help salvage the initiative, potentially setting the stage for the nation’s first federal law governing digital assets.
After over nine hours of behind-the-scenes negotiations, House leaders successfully swayed skeptical lawmakers, allowing the legislative package to move forward.
The most imminent proposal is a bill that would establish a federal regulatory framework for stablecoins—cryptocurrencies typically pegged 1:1 to the U.S. dollar to maintain a stable value. The Senate has already approved the bill. If passed by the House, it would go to Trump for final endorsement. Industry stakeholders view this as a pivotal moment that could enhance legitimacy and provide much-needed regulatory clarity for stablecoin issuers and users.
Stablecoins have grown rapidly in popularity for their speed and cost-efficiency compared to traditional banking transfers, becoming an essential tool for crypto traders and platforms.
Beyond stablecoins, the House is also poised to consider a broader market structure bill that seeks to define the regulatory perimeter for various crypto products. Notably, the bill aims to delineate when a digital asset should be classified as a commodity—thus not subject to Securities and Exchange Commission (SEC) oversight. While the Senate has yet to address this proposal, its progression through the House represents a step toward a more defined and investor-friendly regulatory landscape.
A third bill, which enjoys strong support among conservatives, seeks to prohibit the Federal Reserve from developing or issuing a central bank digital currency (CBDC). Proponents argue that a government-backed digital dollar could infringe on financial privacy and centralize excessive control over Americans’ financial transactions. Federal Reserve officials have reiterated that no active plans for a U.S. CBDC are currently underway.
House Majority Whip Tom Emmer confirmed on X (formerly Twitter) that this measure will be attached to a broader defense authorization bill as part of a strategic legislative compromise.
The advancement of the bills comes after an initial setback on Tuesday, when bipartisan opposition blocked an earlier vote. However, following Trump’s intervention and further lobbying efforts by Republican leadership, a renewed vote was held on Wednesday. The process remained contentious, with GOP leaders working intensively to unify their caucus and ensure the crypto legislation could proceed.
If successfully enacted, these measures would mark a foundational shift in how digital assets are governed in the U.S., potentially unlocking new pathways for innovation, institutional investment, and regulatory compliance in the fast-evolving crypto economy.
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