House approves the GENIUS Act and two crypto-related bills
1 of 3 | House Majority Whip Tom Emmer, R-Minn., told reporters the House of Representatives removed regulatory ambiguity while protecting owners of digital currencies by passing three bills, including the GENIUS Act, on Thursday. Photo by Bonnie Cash/UPI | License Photo
July 17 (UPI) — The House of Representatives voted to regulate digital currencies and protect their owners on Thursday during what many lawmakers called “crypto week.”
The House voted 308-222 to approve the Guiding and Establishing National Innovation for U.S. Stablecoins Act, which is dubbed the GENIUS Act.
The measure goes to President Donald Trump for signing and establishes financial guidelines and protections for owners of stablecoins.
“For far too long,…
