In a historic vote, the US House of Representatives on Thursday passed sweeping cryptocurrency reform bills with broad bipartisan support, sending one of them to the president’s desk for signature. The bills set the stage for the first comprehensive regulation of digital assets in American history.
Among the most vocal and influential supporters was Alaska Congressman Nick Begich, who has quickly built a reputation as one of the foremost cryptocurrency experts in Congress.
The House voted 308-122 to approve the Senate-passed GENIUS Act — short for Generating Essential National Infrastructure for Universal Stability. The legislation creates the first-ever federal regulatory framework for so-called stablecoins, a form of cryptocurrency that is pegged to the US dollar or other traditional assets to minimize volatility. The bill now heads to President Donald Trump’s desk for signature.
Begich, a key figure in crafting and championing the legislation, praised the passage as a “historic step” that will cement America’s role as a global leader in digital finance.
“The GENIUS Act represents a critical turning point for cryptocurrency and digital assets,” Begich said in a statement. “By establishing a comprehensive, transparent, and secure regulatory framework for stablecoin issuers, the bill provides the guardrails necessary to unleash innovation while protecting consumers and enhancing our national security.”
Begich emphasized that clear rules would prevent America’s technological rivals from gaining the upper hand while encouraging domestic innovation in financial infrastructure.
“The GENIUS Act balances the need for innovation with smart oversight, preventing bad actors from exploiting gaps in the system while empowering responsible actors to develop innovative financial infrastructure.”
With millions of Americans investing in digital assets, including indirect exposure through retirement accounts and state investments such as the Alaska Permanent Fund, the legislation aims to bring stability and clarity to a rapidly evolving financial sector.
In a second major vote, the House also approved the CLARITY Act, a broader market structure bill that creates new classifications and oversight mechanisms for the wider digital asset marketplace. The bill passed 294-134, with 78 Democrats crossing the aisle to support it, signaling significant bipartisan momentum behind crypto regulation.
Begich was a sponsor of the CLARITY Act and instrumental in its development, further cementing his status as one of the most active and knowledgeable lawmakers on cryptocurrency issues.
While Minority Leader Hakeem Jeffries voted against the market structure bill, many rank-and-file Democrats joined Republicans in favor, defying vocal opposition from extremist Democrat Rep. Maxine Waters of California, who argued the bills pose a threat to financial stability and could enable corruption by President Trump.
“Today’s overwhelming bipartisan support for both the GENIUS and CLARITY Acts sends a clear message: the U.S. is serious about leading the global digital economy,” Begich said.
Both bills represent a dramatic shift in Washington’s approach to cryptocurrency, transforming digital assets from a regulatory gray area to a formally recognized part of the financial system. The CLARITY Act now heads to the Senate, while the GENIUS Act is expected to be signed into law in the coming days.
Begich, seen as a rising policy leader on digital assets, has indicated that his focus will now turn to implementation and further refining the regulatory framework to ensure continued American leadership in the sector.