Industry milestone! The U.S. House of Representatives has passed three encryption bills, and the GENIUS bill will officially become the first encryption legislation in the United States.

The GENIUS Act is about to take effect, and US stablecoin regulation is on the right track

After the U.S. House of Representatives passed three cryptocurrency bills, the GENIUS Act became the first officially legislated cryptocurrency bill, focusing on issues related to stablecoin issuance and reserve management. The bill aims to regulate stablecoin issuers such as Tether, Circle, and Ripple, ensuring their transparency and reserve security. Trump has scheduled a signing ceremony at 2:30 p.m. Eastern Time tomorrow, and it is expected that the U.S. will become the first country in the world to officially legislate stablecoin regulation.

It is worth noting that this bill is a part of the pro-crypto policies strongly promoted by the Trump administration. The president actively mediated the opposition within the Republican Party before the bill was passed and stated publicly: "This bill will position the United States ahead of China and Europe in the crypto finance space."

The CLARITY Act and the anti-CBDC bill passed the House and will be sent to the Senate for review

The CLARITY Act clarifies the division of responsibilities among major financial regulatory agencies in the U.S., such as the SEC and CFTC, in the cryptocurrency industry, while providing regulatory compliance guidelines for cryptocurrency companies and defining which tokens will be considered securities and which will be considered commodities. This act is regarded as a "regulatory roadmap" urgently needed by the industry.

The anti-CBDC bill restricts the Federal Reserve's power to develop Central Bank Digital Currency (CBDC), reflecting market concerns about privacy and decentralization principles. The passage of this bill means that the official digital dollar will not be launched in the United States in the short term.

The voting details for the three bills are as follows:

• GENIUS Act: 308 votes in favor, 122 votes against
• CLARITY Act: 294 votes in favor, 134 votes against
• Anti-CBDC Bill: 219 votes in favor, 210 votes against

The GENIUS Act will be sent directly to the White House for signing into law, while the other two bills will be submitted to the Senate for further deliberation.

Bitcoin returns to the $120,000 level, the market is fully bullish

Stimulated by favorable legislation, the cryptocurrency market has shown a positive response:

Bitcoin returns to the psychological barrier of $120,000, reaching an all-time high of $123,000 during the trading session. XRP has also surged on the back of news, with the market full of confidence in its development after regulatory clarity.

Overall, this week the cryptocurrency legislation promoted by the U.S. Congress made breakthrough progress, injecting confidence into the market and strengthening the status of the United States as a global friendly center for crypto assets.

Conclusion: The U.S. House of Representatives passed three bills: GENIUS, CLARITY, and anti-CBDC, marking the first legal institutional regulation of the cryptocurrency industry. The management of stablecoins, the division of regulatory roles, and the restrictions on CBDCs form a complete framework. This move not only stimulates a short-term market rise but also lays a historic foundation for the compliant development of the cryptocurrency industry.