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
https://arab.news/5ht82
US House passes landmark crypto bills in win for Trump
- It will now head to the Senate, where Republicans hold a thin majority
Supporters of Venezuelan opposition leader María Corina Machado march in cities worldwide
- Machado went into hiding and has not been seen in public since January
CARACAS: Supporters of Venezuelan opposition leader María Corina Machado demonstrated Saturday in several cities worldwide to commemorate her Nobel Peace Prize win ahead of the prestigious award ceremony next week.
Dozens of people marched through Madrid, Utrecht, Buenos Aires, Lima and other cities in support of Machado, whose organization wants to use the attention gained by the award to highlight Venezuela’s democratic aspirations. The organization expected demonstrations in more than 80 cities around the world on Saturday.
The crowd in Lima carried portraits of Machado and demanded a “Free Venezuela.” With the country’s yellow, blue and red flag draped over their backs or emblazoned on their caps, demonstrators clutched posters that read, “The Nobel Prize is from Venezuela.”
Venezuelan Verónica Durán, who has lived in Lima for eight years, said Machado’s Nobel Peace Prize is celebrated because “it represents all Venezuelans, the fallen and the political prisoners in their fight to recover democracy.”
The gatherings come at a critical point in the country’s protracted crisis as the administration of US President Donald Trump builds up a massive military deployment in the Caribbean, threatening repeatedly to strike Venezuelan soil. Venezuela’s President Nicolás Maduro is among those who see the operation as an effort to end his hold on power, and the opposition has only added to this perception by reigniting its promise to soon govern the country.
“We are living through times where our composure, our conviction, and our organization are being tested,” Machado said in a video message shared Tuesday on social media. “Times when our country needs even more dedication because now all these years of struggle, the dignity of the Venezuelan people, have been recognized with the Nobel Peace Prize.”
Machado won the award Oct. 10 for her struggle to achieve a democratic transition in the South American nation, winning recognition as a woman “who keeps the flame of democracy burning amid a growing darkness.”
Machado, 58, won the opposition’s primary election and intended to run against Maduro in last year’s presidential election, but the government barred her from running for office. Retired diplomat Edmundo González, who had never run for office before, took her place.
The lead-up to the July 28, 2024, election saw widespread repression, including disqualifications, arrests and human rights violations. It all increased after the country’s National Electoral Council, which is stacked with Maduro loyalists, declared him the winner despite credible evidence to the contrary.
González sought asylum in Spain last year after a Venezuelan court issued a warrant for his arrest.
Meanwhile, Machado went into hiding and has not been seen in public since Jan. 9, when she was briefly detained after joining supporters in what ended up being an underwhelming protest in Caracas, Venezuela’s capital. The following day, Maduro was sworn in for a third six-year term.
