Crypto Turning Point: US Stablecoin & Anti-CBDC Laws Passed, Bitcoin Soars

On July 17 (local time), the US House of Representatives passed three major cryptocurrency bills, marking a historic shift in the regulatory landscape for digital assets. The centerpiece among them, the Genius Act, which regulates stablecoins, now awaits only President Donald Trump's signature.



President Trump, having declared this week as “Crypto Week,” has actively promoted the passage of these crypto-friendly laws. The House passed the Genius Act with a vote of 308 in favor and 122 against after it had already cleared the Senate last month. Trump is expected to sign it on July 18.



According to Reuters, the passing of these bills is a “pivotal moment” for the crypto industry, which has long pushed for federal-level legislation and poured significant funds into electing pro-crypto candidates in recent elections.



The Genius Act establishes a clear legal definition for stablecoins, sets issuance guidelines, and requires transparency in asset holdings. Under this law, stablecoins must be backed by highly liquid assets like US dollars or short-term Treasuries, with issuers mandated to disclose their reserves monthly.


Alongside the Genius Act, two other landmark bills were approved:


The CLARITY Act, which defines the distinction between digital commodities and securities, establishing regulatory jurisdiction.



The Anti-CBDC Surveillance State Act, which prohibits the Federal Reserve from issuing a central bank digital currency (CBDC).


These legislative moves are expected to eliminate much of the regulatory uncertainty that has plagued the crypto markets for years.


Summer Mersinger, CEO of the Blockchain Association, hailed it as a “decisive moment for US crypto policy.”


The market reacted positively — Bitcoin (BTC) broke through the $120,000 mark, settling around $120,200 as of July 18 (KST). Ethereum (ETH) and Ripple (XRP) also surged, with XRP jumping 15% to $3.50.


With regulatory clarity on the horizon, the crypto market may be entering a new era of mainstream adoption.

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