US House Advances Crypto Legislation with Stablecoin Rules
U.S. House advanced a package of crypto legislation to the final floor vote, marking a milestone in digital asset regulatory clarity. The legislation includes the FIT21 Act, defining cryptocurrencies as commodities under CFTC jurisdiction, and the Lummis-Gillibrand Stablecoin Transparency Act, imposing oversight on stablecoin issuers. Lawmakers also addressed tax reporting, custody rules, and consumer protections against fraud.
Negotiations led by Representatives Hill, Waters, and House Speaker Mike Johnson alongside Senators Lummis and Gillibrand secured bipartisan support. The crypto legislation balances innovation with risk management and sets inter-agency coordination between the SEC and CFTC.
Markets reacted positively. Bitcoin (BTC) and Ethereum (ETH) saw brief gains. Final passage could reshape U.S. blockchain policy, boost market confidence, and influence trading strategies.
Bullish
These crypto legislation measures reduce regulatory uncertainty by defining asset classes and clarifying oversight. In the short term, the announcement triggered price upticks in BTC and ETH as traders anticipated clearer rules. Over the long term, a federal framework can lower compliance costs, attract institutional investors, and stabilize stablecoin markets. Inter-agency coordination between the SEC and CFTC also minimizes jurisdictional conflicts. Altogether, these factors support a bullish market outlook.