The US Home of Representatives ended a nine-hour standoff on July 16 by agreeing to advance three cryptocurrency-related payments.
A gaggle of Republican lawmakers had refused to help the payments until they got here with a transparent ban on a CBDC.
Home Majority Chief Steve Scalise promised to incorporate that ban within the annual protection spending invoice as an alternative, which usually passes with out difficulty. This compromise allowed the procedural vote to move 217–212.
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The three payments on the agenda are a part of what celebration leaders have referred to as “Crypto Week”.
One invoice, referred to as the CLARITY Act, units guidelines for cryptocurrency markets. One other, the Anti-CBDC Surveillance Act, prohibits the creation of a US CBDC.
The third, referred to as the GENIUS Act, outlines rules for stablecoins. President Donald Trump has urged Congress to move the GENIUS Act by the top of the week.
The inner dispute over the CBDC ban first got here on July 15, when Republicans blocked an earlier try and deliver the payments to the ground.
Consultant Keith Self, who finally modified his vote, argued that the GENIUS Act would nonetheless depart room for a CBDC. Consultant Tim Burchett mentioned that shifting the CBDC ban to the protection invoice was a key a part of the compromise.
Letitia James, the Legal professional Normal of New York, not too long ago requested that Congress make modifications to 2 proposed legal guidelines centered on stablecoins. What did she say? Learn the complete story.
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