US House Advances Crypto Regulation Bills as Trump Steps In — Major Milestone for Digital Asset Industry
In a landmark move for the digital asset industry, the Republican-led U.S. House of Representatives cleared procedural obstacles on Wednesday to advance key cryptocurrency legislation. This development followed direct intervention from President Donald Trump, who helped rally skeptical lawmakers and reinvigorated efforts to pass the nation’s first comprehensive federal crypto laws. After more than nine hours of closed-door negotiations, Republican leaders secured enough support to proceed with three major crypto bills.
At the forefront is a bill to regulate stablecoins—cryptocurrencies designed to maintain a 1:1 peg to the U.S. dollar. This bill has already passed the Senate and, if approved by the House, will head to President Trump for his signature. Its approval would represent a significant win for the crypto industry, providing regulatory clarity around one of its most commonly used tools. Stablecoins have seen a surge in popularity due to their speed and cost-effectiveness for transferring funds.
Another bill under House consideration seeks to define the market structure for digital assets, including clear guidelines for when crypto products are treated as commodities rather than securities. This is a crucial step in reducing regulatory uncertainty, especially regarding oversight by the Securities and Exchange Commission (SEC). However, this legislation has yet to be taken up by the Senate, leaving its final fate uncertain.
The third and most politically charged proposal would prohibit the Federal Reserve from launching a central bank digital currency (CBDC). Conservatives argue that a Fed-backed digital dollar could enable unwarranted government surveillance over financial transactions. Although Fed officials have repeatedly said there are no current plans for such a currency, Republican lawmakers aim to attach this ban to a broader defense authorization package to ensure its passage.
Despite earlier setbacks—including opposition from both conservative Republicans and Democrats—the legislative package moved forward after Trump met privately with key hold-outs. Even then, House leaders spent hours convincing members to proceed with the bills as a bundle rather than separately. The progress represents a major step forward in formalizing the United States’ stance on digital assets and brings the crypto industry closer to long-awaited federal recognition and oversight.
Source: Reuters