Regulating cryptocurrencies has become a crucial topic in the US Congress. Following a failed vote on several bills, the House of Representatives decided to consider three legislations related to cryptocurrencies.
House Vote
On Wednesday, the US House of Representatives approved the consideration of three bills aimed at regulating payment stablecoins, establishing a crypto market structure, and restricting the development of a central bank digital currency (CBDC). The resolution passed with a vote of 215 to 211.
Political Context and Opinions
Despite pressure from President Donald Trump, five Republicans voted against the resolution. During the session, 13 House Republicans expressed concerns over the lack of CBDC provisions in the GENIUS Act. Democrats continue to oppose all three bills without amendments addressing Trump's potential conflicts of interest.
Future Steps and Developments
Next steps on the discussed bills could involve amendments and votes before Congress breaks for August recess. As Republicans hold a slim majority, they may require Democratic support for the final passage of the legislation.
This is a developing story, and further information will be provided as the situation in Congress evolves.
