House passes historic crypto bill, GENIUS Act
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In what's now officially the longest vote in the history of the U.S. House of Representatives, lawmakers stalled for over seven hours and 24 minutes Wednesday night over a cryptocurrency rule vote that nearly imploded under GOP infighting.
Florida lawmakers helped by the cryptocurrency industry are joining a House majority backing the first crypto regulatory bill adopted by Congress.
Bitcoin and other major cryptocurrencies traded higher Wednesday after President Donald Trump said he expects the House to pass the GENIUS Act.
After an earlier setback for the Trump administration when House Republicans failed to advance a key procedural vote on a package of legislation including three crypto measures, President Donald Trump said late Tuesday he has made a deal with Republican members of Congress to advance the legislation on Wednesday.
Georgia Republican Representative Marjorie Taylor Greene invoked the Bible on Wednesday to declare her opposition to a landmark cryptocurrency bill, equating the legislation’s potential impact to the Biblical end of times.
Bitcoin price and other cryptocurrencies were recovering on Wednesday following a set back to key crypto legislation Tuesday.Bitcoin is up 2.2% over the past 24 hours to $119,228, according to CoinDesk data.
The House passed a key procedural vote advancing crypto bills GENIUS and Clarity, setting up final debate and votes.