The House Voted overwhelmingly on Thursday, to Pass the First ever Major Legislative overhaul of Cryptocurrency Regulations, sending a Bill that will Create New Rules for so-called Stablecoins to Trump's (R) desk and delivering Crypto companies a Historic Lobbying Victory.
House Lawmakers Voted 308-122 to adopt the Senate-passed GENIUS Act, with more than 100 Democrats including Minority Leader Hakeem Jeffries (D-NY, 8th District) joining most Republicans to Approve a Measure that is poised to help Legitimize Digital Assets as Mainstream Financial products.
The House also voted 294-134 Thursday to Pass a Second, much broader Crypto Market Structure Bill that will now go to the Senate. 78 Democrats Voted with Republicans to Advance the Legislation, known as the CLARITY Act, a Blowout showing of Bipartisan support that beat Expectations and topped the Vote Tally that a similar Bill received on the House floor in 2024.
Jeffries Voted Against the Market Structure Proposal, which would establish a Larger, industry Friendly Regulatory Tramework for Digital Assets, but it earned Backing from several other Prominent Democrats, including former House Speaker Nancy Pelosi (D-CA, 11th District) and Caucus Chair Pete Aguilar (D-CA-33rd District).
The Deluge of Democratic Support for the Industry-backed Crypto Bills came despite Fierce Opposition from the Top Democrat on the House Financial Services Committee, Rep. Maxine Waters (D-CA, 43rd District), who said the Legislation poses a Risk to Financial Stability and would enable Corruption by Trump.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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