Crypto Legislation Hits House Floor: High-Stakes Vote on GENIUS, CLARITY Acts Nears

The U.S. House of Representatives may vote on two pieces of crypto legislation as soon as next week, a June 29 report from Punchbowl News shows.

Crypto Legislation To See Rare Double Vote By the House

According to the Sunday report, the congressional chamber will host a single procedural vote on both the GENIUS Act and the CLARITY Act as soon as the week of July 7.

Following the procedural vote, each bill will then go on to face its own full vote on the House floor.

Should either piece of crypto legislation pass, it would mark a major step in establishing an overall regulatory framework for digital assets in the U.S.

U.S. Lawmakers Push for New Crypto Rules

News of the stablecoin bill and crypto market structure legislation’s potential advancement comes amid a growing push by U.S. lawmakers to pass clear digital asset guidelines under a new blockchain-friendly White House.

Senator Cynthia Lummis (R-WY) spoke with CNBC last week about the importance of Congress advancing both statutes following the GENIUS Act’s passage on the Senate floor earlier this month.

“I hope now that they’re comparing the stablecoin legislation that their Financial Services Committee passed to the GENIUS Act, we can work together to figure out a path forward for both market structure and the GENIUS Act,” Lummis said of the House of Representatives’ work on digital assets last week.

“I’m not saying combine them, but they both need to pass this year,” she continued.

Meanwhile, Senator Tim Scott (R-SC) vowed to finalize crypto market structure legislation by September 30 of this year in a fireside chat on Capitol Hill featuring fellow Senator Cynthia Lummis and the head of the President’s Council of Advisers on Digital Assets of the White House, Bo Hines.

“We are committed to getting market structure done by the end of September,” Hines said in a June 26 X post. “Period.”

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