On July 17, 2025, a historic day for the entire crypto industry, the House of Representatives passed all three major crypto bills, marking a crucial victory for digital asset proponents.
The country’s stablecoin bill, the GENIUS Act, in particular, is now set to be presented to President Donald Trump, marking the potential for the first substantial piece of cryptocurrency legislation to be signed into law.
Historic Vote For Crypto Bills
As reported by Fox journalist Eleanor Terret on social media platform X (formerly Twitter), both Democrats and Republicans rallied together, voting in a manner that exceeded expectations.
The path forward in the Senate, however, remains fraught with challenges. TD Cowen analyst Jaret Seiberg noted that while the passage of these bills is symbolically significant, the real test will come with the Senate’s ability to build the necessary bipartisan consensus to avoid a filibuster.
Seiberg expressed skepticism about receiving comprehensive details on the Senate’s plans until late this year or early next year, emphasizing that the language of any Senate-approved bill will ultimately determine its fate.
GENIUS Act Secures Strong Approval
The House votes were telling of the growing acceptance of cryptocurrency in American politics. The CLARITY Act received overwhelming support, passing with a vote of 294 to 134, which included 78 Democrats—more than double the anticipated number. This was a stark contrast to the previous year when only 71 voted for the FIT21 legislation.
The GENIUS Act followed suit, passing with a vote of 308 to 122, supported by 102 Democrats. The Anti-CBDC Act, while more narrowly passed at 219 to 210, still saw bipartisan backing with two Democrats joining Republicans in favor.
Featured image from DALL-E, chart from TradingView.com
Related Posts
