House passes historic cryptocurrency legislation, sending GENIUS Act to president's desk

The House of Representatives on Thursday delivered a massive win to the cryptocurrency industry by passing the historic GENIUS Act, which establishes a regulatory framework for Stablecoins.

The Senate passed the legislation in a bipartisan move last month, which means the bill will now head to President Donald Trump’s desk for his signature. The vote in the House was also bipartisan, with 206 Republicans voting in favor of the bill and 102 Democrats. The complete House vote was 308-122.

The move comes after House Republicans stalled the legislation earlier this week, along with a handful of other crypto related bills. They later fell in line after meeting with Trump at the White House, per CBS News.

“The GENIUS Act is headed to the President’s desk! House Republicans are protecting consumers and creating a regulatory framework for payment stablecoins,” House Republicans posted to X. “The United States will continue to be a world leader that drives innovation.”

Stablecoins are a type of digital currency tied to the value of the U.S. dollar and are often seen as reliable types of cryptocurrency. 

The legislation sets “high standards” for cryptocurrency issuers, creates a better and safer framework for cryptocurrency in the U.S. and “limits big tech overreach,” one of the bill’s early Democratic supporters Sen. Mark Warner claimed in May. 

The House also voted 294-134 Thursday to pass a second, much broader crypto bill called the CLARITY Act that will now go to the Senate. House Republicans initially wanted to tie the bills together, but that would have required them to send both bills to the Senate.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.