cryptocurrency, Trump and House of Representatives
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Crypto interest groups spent heavily donating to lawmakers who went on to support crypto legislation on Capitol Hill.
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The U.S. House on Thursday passed the first major piece of nationwide legislation to regulate cryptocurrencies, a move widely expected to bring the once-obscure payment technology further into the mainstream economy.
The House is considering three bills that would regulate digital currencies. The first, the GENIUS Act, is expected to quickly pass and head to President Donald Trump's desk by Friday.
The GENUIS Act, a stablecoin bill, has already passed the Senate and looks set to become the first standalone crypto measure signed into law. The market structure package called the CLARITY Act could be held up as Democrats have concerns about President Trump's growing crypto empire.
President Donald Trump wished everyone a "Happy Crypto Week" on Truth Social on July 15. The House will soon vote on the GENIUS bill to make America the "UNDISPUTED, NUMBER ONE LEADER" in crypto assets. BTC Volatility Hit Historic Lows as ETF Inflows Transformed Market Dynamics: Bybit & Block Scholes Monthly Report
The crypto super PACs, though, have signaled that the vote breakdown on the broader bill, led by House Financial Services Chair French Hill (R-Ark.), will be their primary consideration as they weigh how to deploy their 2026 haul. The group spent more than $30 million benefiting House Democrats during the last campaign.
The crypto industry will take a step closer to going mainstream this week as a series of industry-friendly bills progress through Congress, paving the way for digital assets to potentially be further integrated into traditional finance.