Washington, 18 July 2025 —The US House of Representatives on Thursday passed three separate bills related to digital assets, including a long-awaited framework for stablecoins. The measures—the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act—will now advance to the Senate, where further debate and potential revisions are expected.
House Financial Services Committee Chairman French Hill (R-AR) welcomed the passage of the bills, which he called “landmark legislation” aimed at establishing regulatory certainty and safeguarding consumer privacy.
The CLARITY Act, approved by a vote of 294 to 134, introduces a functional regulatory framework for digital assets, aiming to define oversight responsibilities across US agencies and set clearer rules for market participants.
“This is a pivotal moment for American innovation and a critical step forward in protecting consumers and investors alike,” said Hill in a statement. He also noted the involvement of senior lawmakers including Majority Whip Tom Emmer and House Agriculture Committee Chairman Glenn Thompson in advancing the bill.
The GENIUS Act, passed with a 308–122 vote, proposes the first comprehensive US framework for payment stablecoins—digital tokens pegged to the value of fiat currencies. The bill sets out licensing requirements for stablecoin issuers, establishes reserve standards, and outlines supervisory roles for federal and state regulators.
“Our years of diligent work in Congress to bring clarity to payment stablecoins has reached a historic turning point,” said Hill. He credited bipartisan efforts in the Senate, including support from Senate Banking Chairman Tim Scott, and Senators Bill Hagerty and Cynthia Lummis..
With House approval secured, the GENIUS Act moves to the Senate, where it will be considered alongside related legislative efforts led by Senate Banking Chairman Tim Scott and Senators Cynthia Lummis and Bill Hagerty. If passed in the Senate, the bill would be sent to President Trump for signature into law.
The Anti-CBDC Surveillance State Act, which passed more narrowly at 219 to 210, would prohibit the Federal Reserve from issuing a central bank digital currency (CBDC), citing concerns about privacy and government overreach.
“A fundamental choice is at stake about the future of money in America—a choice between privacy and government control,” Hill said, endorsing the bill introduced by Majority Whip Tom Emmer. The measure reflects growing partisan divides over the role of centralised digital currencies.
The bills are expected to face more scrutiny in the Senate, particularly the Anti-CBDC measure, which passed along largely partisan lines. The Biden-era Senate had previously stalled similar legislation; it remains to be seen whether the current Republican-led Congress and White House will accelerate final passage.
If the Senate passes the GENIUS Act without major changes, it could reach the president’s desk before the August recess.
