WASHINGTON: The US House passed landmark cryptocurrency bills on Thursday, delivering on the Trump administration’s embrace of the once-controversial industry.
US lawmakers easily passed the CLARITY Act, which establishes a clearer regulatory framework for cryptocurrencies and other digital assets.
The bill is intended to clarify rules governing the industry and divides regulatory authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission .
It will now head to the Senate, where Republicans hold a thin majority.
House legislators also easily passed the GENIUS Act, which codifies the use of stablecoins — cryptocurrencies pegged to safe assets like the dollar. That bill was due to immediately go to Trump for his signature to become law.
The GENIUS Act was passed by the Senate last month and sets rules such as requiring issuers to have reserves of assets equal in value to that of their outstanding cryptocurrency.
The raft of legislation comes after years of suspicion against the crypto industry amid the belief that the sector, born out of the success of bitcoin, should be kept on a tight leash and away from mainstream investors.
But after crypto investors poured millions of dollars into his presidential campaign last year, Trump reversed his own doubts about the industry, even launching a Trump meme coin and other ventures as he prepared for his return to the White House.
Trump has, among other moves, appointed crypto advocate Paul Atkins to head the Securities and Exchange Commission .
He has also established a federal “Strategic Bitcoin Reserve” aimed at auditing the government’s bitcoin holdings, which were mainly accumulated by law enforcement from judicial seizures.
The Republican-led House is also considering a bill it calls the Anti-CBDC Surveillance State Act that aims to block the issuance of a central bank digital currency — a digital dollar issued by the US Federal Reserve.
Republicans argue that a CBDC could enable the federal government to monitor, track, and potentially control the financial transactions of private citizens, undermining privacy and civil liberties.
It would require a not-easily-won passage in the Senate before going to Trump for his signature.
An aborted effort to set the anti-CBDC bill aside caused a furor among a small group of Republicans and delayed the passage of the two other bills before a solution was found.
US House passes landmark crypto bills in win for Trump
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US House passes landmark crypto bills in win for Trump
- It will now head to the Senate, where Republicans hold a thin majority
French minister pledges tight security at rally for killed activist
- Deranque’s death has fomented tensions ahead of municipal elections next month and presidential polls next year
- Macron has said there was no place in France “for movements that adopt and legitimize violence“
LYON: French police will be out in force at a weekend rally for a slain far-right activist, the interior minister said Friday, as the country seeks to contain anger over the fatal beating blamed on the hard left.
Quentin Deranque, 23, died from head injuries after being attacked by at least six people on the sidelines of a protest against a politician from the hard-left France Unbowed (LFI) party in the southeastern city of Lyon last week.
His death has fomented tensions ahead of municipal elections next month and presidential polls next year, in which the far-right National Rally (RN) party is seen as having its best chance yet at winning the top job.
President Emmanuel Macron, who is serving his last year in office, has said there was no place in France “for movements that adopt and legitimize violence,” and urged the far right and hard left to clean up their act.
Deranque’s supporters have called for a march in his memory on Saturday in Lyon.
The Greens mayor of Lyon asked the state to ban it, but Interior Minister Laurent Nunez declined to do so.
Nunez said he had planned an “extremely large police deployment” with reinforcements from outside the city to ensure security at the rally expected to be attended by 2,000 to 3,000 people, and likely to see counter-protesters from the hard left show up.
“I can only ban a demonstration when there are major risks of public disorder and I am not in a position to contain them,” he told the RTL broadcaster.
“My role is to strike a balance between maintaining public order and freedom of expression.”
- ‘Fascist demonstration’ -
Jordan Bardella, the president of anti-immigration RN, has urged party members not to go.
“We ask you, except in very specific and strictly supervised local situations (a tribute organized by a municipality, for example), not to attend these gatherings nor to associate the National Rally with them,” he wrote in a message sent to party officials and seen by AFP.
LFI coordinator Manuel Bompard backed the mayor’s call for a ban, warning on X it would be a “fascist demonstration” that “over 1,000 neo-Nazis from all over Europe” were expected to attend.
Two people, aged 20 and 25, have been charged with intentional homicide in relation to the fatal beating, according to the Lyon prosecutor and their lawyers.
A third suspect has been charged with complicity in the killing.
Jacques-Elie Favrot, a 25-year-old former parliamentary assistant to LFI lawmaker Raphael Arnault, has admitted to having been present at the scene but denied delivering the blows that killed Deranque, his attorney said.
Favrot said “it was absolutely not an ambush, but a clash with a group of far-right activists,” he added.
Italy’s hard-right Prime Minister Giorgia Meloni on Wednesday said the killing of Deranque was “a wound for all of Europe.”
Referring to her comments, Macron said everyone should “stay in their own lane,” but Meloni later said that Macron had misinterpreted her comments.
Opinion polls put the far right in the lead for the presidency in 2027, when Macron will have to step down after the maximum two consecutive terms in office.
