cryptoconservative
Crypto Rules on the Move: What You Need to Know
USASunday, July 20, 2025
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Key Details
- Date: Thursday
- Vote: 308 to 122
- Type of Law: First-of-its-kind stablecoin regulation
What Are Stablecoins?
- Definition: A type of cryptocurrency
- Key Feature: Value tied to stable assets (e.g., US dollar)
- Benefit: Less volatile than other cryptocurrencies
Law's Objectives
- Regulation: Ensures compliance with US anti-money laundering and sanctions laws
- Impact: Aims to control stablecoin operations in the US
Path to Passage
- Initial Block: Republicans led by Rep. Marjorie Taylor Greene initially opposed the law, demanding a ban on central bank digital currency
- Resolution: After negotiations with President Trump and House leaders, the opposition was lifted
- Vote Duration: Over 9 hours
Next Steps
- President's Role: The law now goes to President Trump for signing
- Trump's Stance: Supports the law, aiming to position the US as a leader in digital assets
- Criticism: Some Democrats, like Sen. Elizabeth Warren, argue the law lacks sufficient consumer and national security protections
Legislative Journey
- Senate Approval: Passed in June with bipartisan support
- Final Decision: Awaits President Trump's signature to become official
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