‘Crypto Week’ in the US exceeds obstacle and a key vote is expected today

By Hannah Pérez

American legislators manage to overcome a blockade and agree to advance in the review of three cryptocurrency bills. They will vote on the ‘Genius’ law of Stablecoins this Thursday.

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• The road is cleared for cryptocurrency legislation in the United States.
• Republicans manage to overcome an impasse and vote to advance in the review of the bills.
• They will consider the Genius law of Stablecoins, Clarity Law and an Anti-CBDC law.
• A final vote on the legislation of Stablecoins today is expected, will Trump sign the law on the weekend?

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The so -called ‘Crypto Week’ of the United States Congress, is back to the right track now that the House of Representatives approved the procedure vote on three important bill on cryptocurrencies.

On Wednesday night, after a historical vote of more than 10 hours, republican legislators managed to solve a Impasse to advance in the consideration of the first cryptocurrency laws of the country. The 217-212 vote effectively revived the bills that were defeated the previous day and now a key vote is expected this Thursday, according to reports.

A motion for the review of the bills had faced a blockade on Tuesday during a camera session, with a group of Republicans, expressing concerns about the lack of an explicit prohibition for a Central Bank digital currency (CBDC) in the Stablcoins bill, “Genius”.

But finally those Republicans joined to approve a necessary procedural step to begin consideration after legislators agreed to include a measure that prohibits the Federal Reserve from issuing a CBDC to the National Defense Authorization Law (NDAA) at the end of this year, reported various means.

After the failed vote on Sunday, President Donald Trump intervened to negotiate an agreement between Republican legislators, pressing for an effective review and progress of cryptocurrency law this week.

Key vote of the ‘genius’ law is expected today

A group of Washington Republicans had declared this week as the “Cryptocurrency Week”, committing to three key law projects aimed at providing clarity and legitimacy to the digital asset industry.

Specifically, they had scheduled to review the “genius” law, which proposes a regulatory framework for Stablecoins And it was approved by the Senate last month, and the law “Clarity”, which adopts a more comprehensive approach to create a regulatory framework for digital assets and defines regulatory functions for supervisory agencies.

Finally, an anti-CBDC law is also included prevent the Federal Reserve from issuing a central bank digital currency directly to individuals. The last two must still vote in the Senate for a final decision.

These bills have the potential to remodel the industry panorama in the United States and sit a fundamental precedent for the future regulation of digital assets, which makes this week a significant importance for the sector.

The cryptocurrency market experienced a price back on Tuesday after legislators failed to advance. Bitcoin (BTC) was corrected towards the USD $ 116,000 after reaching a historical maximum of USD $ 123,000 on Monday. Since then, he has resumed the upward course and negotiated around USD $ 118,000 at the time of edition, according to Coinmarketcap.

The Chamber of Representatives will be expected to vote on Genius Law this Thursday and, if approved, it will go to the President of the United States for its final signature. Trump had insisted that he wanted the law on his desk before August.

Clarity Law could receive a vote next week, he reported PunchBowl as reported by the media COINDESK.

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Hannah Estefanía Pérez / Diariobitcoin

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