Crypto Week gets happy ending as lawmakers pass GENIUS, CLARITY and Anti-CBDC bills

In a historic move on Thursday, the US House of Representatives passed three pieces of crypto legislation, including the Guidance and Establishing Innovation for US Stablecoins (GENIUS) bill, the Digital Asset Market Clarity (CLARITY) bill, and the Anti-CBDC bill.

House lawmakers pass crypto regulatory bills during historic Crypto Week

House lawmakers passed the GENIUS bill on Thursday in a landmark vote of 308-102, sending it to President Trump's desk for final signing.

The bill establishes a clear federal regulatory framework for stablecoins and their issuers in the US, mandating full reserves backed by the US Dollar and clear anti-money laundering (AML) guidance. This will make the GENIUS Act the first crypto regulation to be signed into law in the US.

To commemorate the signing of the GENIUS Act, the White House is planning a ceremony on Friday with lawmakers and industry leaders as potential attendees. The celebration was disclosed by White House Press Secretary Karoline Leavitt earlier on Thursday, who stated that President Trump is confident that the GENIUS Act will pass in the House.

"We expect to get it to the President's desk, and we're planning a signing ceremony tomorrow afternoon," she said during a press briefing.

The CLARITY bill also passed in a 294 to 198 vote as supporters doubled the opposition's count to move the legislation to the Senate floor. Seventy-eight Democrats joined the support wagon for the market structure bill to ensure its passage.

The bill aims to regulate the broader crypto market by establishing clear rules that define the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in digital asset regulation.

Following its passing, the CLARITY bill heads to the Senate floor for final consideration. If passed, it would head to President Trump's desk for signing.

House lawmakers also passed the Anti-CBDC Surveillance State bill in a narrow margin of 219 to 210 votes.

The bill aims to prohibit the Federal Reserve from issuing a retail central bank digital currency (CBDC). The development follows a series of setbacks among House GOP members in the past two days concerning the Anti-CBDC bill. Republicans argued over the merging of the CLARITY and Anti-CBDC bills, citing that it could prevent the latter's progress in the Senate.

Lawmakers settled the disputes with an agreement to add the Anti-CBDC bill to the National Defense Authorization Act (NDAA) on Wednesday.

Despite earlier uncertainty surrounding the progress of the crypto bills and Crypto Week, House members supported two of the three legislations in a bipartisan fashion, surpassing previous expectations. The Anti-CBDC bill passed with support from just two Democrats.

Bitcoin (BTC) is trading near the $120,000 mark, while Ethereum (ETH) has crossed the $3,500 level for the first time since January following the bills' passage on Thursday.