Advocates hope House bills will bring decentralised currency into US mainstream as Trump pushes ‘crypto week’.The United States House of Representatives has passed three bills related to cryptocurrency, sending one directly to US President Donald Trump and the other two to the US Senate.
The votes by the Republican-controlled chamber come amid a wider push by the Trump administration to make the US the “crypto capital of the world”, in what the president has dubbed “crypto week”.
Trump and his family’s emphasis on the largely unregulated crypto industry has also raised concerns it could be used to mask corruption and foreign influence.
The bill that will go directly to Trump is called the GENIUS Act. It sets initial guardrails and consumer protections for a cryptocurrency known as stablecoins, which are tied to “stable” assets like the US dollar to reduce their volatility.
House Financial Services Chair French Hill said during debate on Thursday that the bill will “ensure American competitiveness and strong guardrails for our consumers”.
“Around the world, payment systems are undergoing a revolution,” he said.
The legislation passed in the Senate and by a 308-122 vote in the House. It garnered bipartisan support in both chambers.
A second bill would create a new market structure for cryptocurrency. It passed by a slimmer margin of 294-134 and will need to go to the Senate, where lawmakers could craft a new version.
That legislation aims to provide clarity for how digital assets are regulated, mostly by defining what forms of cryptocurrency should be treated as commodities regulat …