The House of Representatives of the United States voted on Wednesday to advance three major cryptography bills. The law on engineering, the law on clarity and the anti-CBDC law received support overwhelming from the Republicans and a majority disapproval of the Democrats.
After the three bills failed on Tuesday in procedural votes with 196 to 223 votes, the House of Representatives approved the bills today with 215 to 211 votes. The law on engineering having already adopted the Senate, President Donald Trump declared earlier in the day that the Chamber would adopt legislation on Thursday.
Why crypto bills were adopted today
The three bills of Crypto have adopted the vital procedural obstacle thanks to the intervention of President Trump in the last 24 hours. Republican members of the Chamber who had voted against bills have pressure for clear anti-CBDC regulations.
“The members of the House Freedom House Caucus will vote in favor of the rule today after having concluded an agreement with President Trump last night. By virtue of this Agreement, the Rules Committee will be reconstituted later in the day to add clear and anti-central provisions of Digital Bank (CBDC) to clarity legislation,” noted the representative Andy Harris earlier.
Market impact
The imminent approval of crypto invoices will have a deep impact on the wider Altcoin market led by Ethereum (ETH). In addition, Ethereum, among other layer chains, will attract more institutional investors seeking to build stablecoins supported by the Fiat in a regulated manner.
After the House Voting on Wednesday, the Ethereum price jumped 6.9% in the last 24 hours to exchange more than $ 3,308 when writing this subject. The total market capitalization of cryptography has increased by 3% in the last 24 hours to oscillate around 3.8 billions of dollars when drafting this article.
In the United States, clear cryptocurrency regulations will move for world markets to follow in the same direction. Consequently, the cryptography market is well placed to grow exponentially in the near future.
