On Tuesday, in an unexpected as symbolic turn, the House of Representatives of the United States canceled the crucial votes on two major bills relating to cryptocurrencies. This decline, which occurred in full “Crypto Week”, follows a procedural failure which exposes the deep political divisions around the regulation of digital assets. While the eyes were turned towards the imminent adoption of the texts “Clarity” and “Genius”, the discussions are now frozen, leaving the uncertainty over the future of the American Crypto framework.
In short
- The room canceled votes on two key crypto laws on Tuesday.
- The texts Clarity and Genius are now pending after a procedural rejection.
- Internal divisions, especially around CBDC, slow down their adoption.
A procedural failure revealing an internal cleavage
Tuesday, a procedural vote intended to advance three bills linked to digital assets failed: 196 votes for, 223 against. The consequence was immediate: all the votes scheduled for the day have been canceled, suspending discussions on Clarity and Genius, two texts expected for months by the crypto ecosystem.
The law Genius was to supervise the Stablecoins sector by imposing guarantees in dollars and annual audits. She had already been approved by the Senate and could have joined Donald Trump's office before the end of the week. As for the text Clarityhe promised to clarify the respective roles of the dry and the CFTC, while demanding increased transparency standards for the actors of the crypto ecosystem.
But it is precisely this desire to mark out a historically deregulated market which arouses the opposition. For some Republican elected officials, notably Greene, Genius does not go far enough at the prohibition of Central Bank digital currencies (CBDC). Their fear? Static surveillance reinforced on citizens' transactions.
Genius and Clarity: ambitious projects pending
Behind Tuesday's cancellation is much more than a simple legislative setback. Projects Clarity And Genius embodied a historic attempt to give the United States a clear roadmap on cryptos. GENIUS, in particular, proposed to establish a stable -co -for market supported by the private sector, guaranteeing user safety while protecting monetary sovereignty of the country.
Cody Carbon, CEO of Digital Chamber, remains optimistic. According to him, discussions will resume Wednesday. He maintains that Genius is the best response to the CBDC spectrum: rather than prohibited by constraint, it proposes to make the use of an obsolete public digital currency by the performance of a private competitive market. A position shared by several figures of industry, but also disputed in political ranks.
Behind the scenes, Donald Trump would put pressure to advance the project quickly, aware of the strategic impact that this legislation on the US digital economy could have. His direct involvement could tip the scales in the coming days.
A crypto weekend with a taste of bitterness … but not without tomorrow
The crypto week, presented as an unprecedented opportunity to develop the regulatory framework, ultimately faces the reality of partisan tensions. The Chamber was also to examine a separate bill, carried by Tom Emmer, prohibiting the Federal Reserve from issuing a CBDC accessible to individuals: a text which, ironically, could have responded to the objections of the slingers.
The challenges are largely exceeding the technical framework. This is an ideological confrontation between a state guaranteeing digital freedoms via a flexible framework, and a more restrictive, suspicious approach with regard to any form of centralized digital currency.
Pending a possible recovery of the votes, planned hypothetically on Wednesday for Clarity and Thursday for Genius, the crypto markets remain expectant. Because beyond internal debates, America plays its credibility in the face of powers like China which advances with felted steps or Europe, already ahead of the regulation of digital assets.
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