House Passes Crypto Bills; SEC's Atkins Voices Support

The House of Representatives has approved three crypto bills: the GENIUS Act, the Clarity Act, and the Anti-CBDC Act.

Key Takeaways

• The House passed the GENIUS Act, the Clarity Act, and the Anti-CBDC Act.
• Former SEC Chair Paul Atkins issued a statement supporting the new legislation.

The legislative package aims to establish a regulatory framework for payment stablecoins, define the entities authorized to issue them, and prevent the Federal Reserve from launching a central bank digital currency (CBDC).

Former SEC Chair Paul Atkins released a statement praising the passage of the bills, calling it a “historic milestone” for innovators and market participants in the digital asset space.

“I would like to congratulate the House of Representatives on passing the GENIUS Act and commend the work both the House and Senate put into this important legislation,” Atkins said.

Atkins emphasized the GENIUS Act’s role in setting clear guidelines for payment stablecoins, asserting that entrepreneurs deserve “clear rules.” He believes this framework will facilitate faster, cheaper, and safer financial transactions while maintaining risk protections.

“Today’s passage of the GENIUS Act sends a powerful message that this Administration is charting a new course,” Atkins said. “This is an important step to spur innovation by providing the crypto industry with clear rules of the road.”

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