US Republican lawmakers and President Donald Trump managed to overcome conflicts between parties to obtain three encryption projects in the House of Representatives last week, but some legislation still has a way to go before it became a law.
After two long sessions in the House of Representatives last week, on Thursday, all Republicans and more than 100 democrats on Yay voted to direct and create national innovation for the benefit of the United States (genius), a bill to regulate payment payments, which Trump fell in the law after about 24 hours.
The CLARITY Law will be directed to the clarity of the digital assets market and the CBDC (Central Bank of Digital Currency), to the Senate to consider them with both councils ready to break the August holiday.
The three laws were part of the Republican “encryption week” initiative, claiming urgency in setting the regulatory clarity of the aspects of the digital asset industry.
Some Republican lawmakers tried to describe their efforts as “non -partisan” or from both parties. The vast majority of spectators in the genius law were members of their party or their alliance with Trump in another way, while some Democrats continue to raise Trump’s potential conflicts in interests in discussions on bills related to his encrypted projects. This indicates that legislation can still face arguments from Democrats in the Senate on the remaining two draft laws.
The Senate Republicans are expected to address the structure of the encryption market first. The draft law will set rules for organizers such as the Securities and Stock Exchange Committee (SEC) and the CFTC Futures Trading Committee (CFTC) and distinguish qualified symbols as securities under American law.
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The clarity comes first, and the second cbdcs?
On Tuesday, four Republican Senate members issued a draft discussion for their copy of the draft code of the encryption market, who said “dependent” on the law of clarity. The legislation, titled “responsible financial innovation law”, suggested that the efforts of the House of Representatives to create the structure of the encryption market may be more than just a test of the Senate Bill.
Whether the law of clarity or the responsible financial innovation law ends until it is closer to the final product that Republicans want, any Bell must pass through both rooms to end up on Trump’s office.
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The CBDC Anti -Law face similar challenges. Only two Democrats stood with Republicans to agree to the bill in the House of Representatives. Reports also indicate that many Republicans conducted the initial vote on all three bills due to concerns that the draft of the genius law can allow the rear paper in the American digital dollar.
Sinator Wyoming Sinaia Lomes, Chairman of the Sub -Committee for the Digital Assets of the Banking Committee, also has, Proposal That the Senate remains in a session until August to address some of Trump’s nominations.
A Senator spokeswoman said she would also help “implement the president’s agenda” during that time, indicating that she can also use time to prepare for coding marks on the two draft laws.
CFTC still faces employment issues
Amid all discussions on encryption projects projects and legislators in Congress, they are expected to break their vacation in August within days, the Senate also did not vote on the nomination of Brian Quintns for the presidency of CFTC.
Reports Proposal One of the Republican Senator was absent from the meeting of the Monday committee, forcing the leadership to delay the vote on Quintenz.
A spokesman for the Senate Agriculture Committee, John Bouzman, said to consider the nomination of Quintns, to Republican Cointelegraph, who signed a vote along the party lines. However, the committee planned to vote on the potential CFTC president before the August holiday.
Only two commissioners, Acting President Caroline Fam and Christine Johnson, were working in CFTC at the time of publication. Both are expected to leave the agency before 2026 after Quents’s potential confirmation by the Senate, which may leave four vacant leadership seats.
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2025-07-23 19:47:00
