{"id":345,"date":"2025-07-17T21:35:05","date_gmt":"2025-07-17T21:35:05","guid":{"rendered":"https:\/\/www.worldpumpnews.com\/?p=345"},"modified":"2025-07-17T21:35:05","modified_gmt":"2025-07-17T21:35:05","slug":"u-s-house-passes-cryptocurrency-bill-sends-to-trumps-desk-national","status":"publish","type":"post","link":"https:\/\/www.worldpumpnews.com\/?p=345","title":{"rendered":"U.S. House passes cryptocurrency bill, sends to Trump\u2019s desk – National"},"content":{"rendered":"

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The House has passed two bills intended to boost the legitimacy of the cryptocurrency industry with new regulations as President Donald Trump has pushed to make the U.S. the \u201c crypto capital of the world.\u201d<\/p>\n

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One of the bills, which would regulate a type of cryptocurrency called stablecoins, had already passed the Senate with broad bipartisan support and will now head to Trump\u2019s desk.<\/p>\n

The other bill, broader legislation to create a new market structure for cryptocurrency through the Securities and Exchange Commission and Commodity Futures Trading Commission, moves to the Senate.<\/p>\n

The House was also voting on a third bill that would prohibit the Federal Reserve from issuing a central bank digital currency.<\/p>\n

The stablecoin bill sets initial guardrails and consumer protections for the cryptocurrency, which is tied to a stable asset, often the U.S. dollar, to reduce price volatility.<\/p>\n

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It passed the Senate with bipartisan support in June.<\/p>\n

\u201cAround the world, payment systems are undergoing a revolution,\u201d said House Financial Services Chair French Hill of Arkansas as lawmakers debated the stablecoin legislation Thursday morning. Hill said the bill will \u201censure American competitiveness and strong guardrails for our consumers.\u201d<\/p>\n

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After Trump declared it \u201ccrypto week,\u201d the bills were stalled for more than a day amid disagreements among House Republicans about how to combine the legislation. In the end, GOP leaders put the three bills for a separate votes, leaving the fate of the other two bills unclear in the Senate.<\/p>\n

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The internal dissent could foreshadow challenges ahead for the more sweeping crypto legislation that Trump has demanded and the industry has poured millions into advancing.<\/p>\n

The stablecoin measure is seen by lawmakers and the industry as a step toward adding legitimacy and consumer trust to a rapidly growing sector. Treasury Secretary Scott Bessent said in June that the legislation could help that currency \u201cgrow into a $3.7 trillion market by the end of the decade.\u201d<\/p>\n

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The bill outlines requirements for stablecoin issuers, including compliance with U.S. anti-money laundering and sanctions laws, and mandates that issuers hold reserves backing the cryptocurrency. Without such a framework, Republicans on the Senate Banking Committee in a statement warned, \u201cconsumers face risks like unstable reserves or unclear operations from stablecoin issuers.\u201d<\/p>\n