House passes historic crypto bill, the GENIUS Act, after right-wing rebellion
Washington — The House on Thursday passed a landmark piece of legislation to regulate cryptocurrency after its fate appeared in limbo when right-wing Republicans staged a rebellion that brought the floor to a standstill.
The bill, known as the GENIUS Act, is the first major crypto legislation ever passed by Congress. It now heads to President Trump’s desk.
It passed in a bipartisan vote of 308 to 122, with 206 Republicans and 102 Democrats supporting it.
On Tuesday, a dozen conservatives sank a procedural vote to advance three crypto bills, including the GENIUS Act, which establishes a regulatory framework for the $250 billion market for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S….
