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.
I am NOT with Congressman Begich on this one!
Craptocurrenxcy is just another tool of the Big Brother surveillance state, and just another step in the destruction of financial privacy and freedom.
Hopefully, the fad for these latter-day air tulips will die just like the early 17th century fad for physical tulips.
Sorry, but the opposite will likely prove to be true. Bitcoin and others are the only wealth the government can’t control. That’s why they fought it for so long. Go NB3!!
One of the investors I respect is Warren Buffet, who has described crypto as “Rat poison squared” and that he’d never invest in it for some of these reasons:
No intrinsic value: Cryptocurrencies have no inherent value and don’t produce anything, unlike productive assets such as businesses or real estate.
Speculative nature: Bitcoin is viewed as a speculative gamble, similar to a “gambling device,” with concerns about its volatility.
Likely bad ending: Cryptocurrencies are predicted to eventually “come to a bad ending”.
The same bunch of congressional morons that are pushing this are the ones who have given the USA an unsustainable $37 trillion dollar debt that is devaluing the US dollar.
Except Berksire Hathaway has invested in digital banking using crypto. Adoption appears to be coming to almost everyone. Jamie Dimon denounced it too. Now look at him. They are major palyers. I advise everyone to do their research before they make these sweeping statements.
Do Congress members have to report their crypto earnings? Cryptocurrency is skyrocketing this month. Congress members are getting rich
Cryptocurrency is based on thin air.
As if the Dollar is not.
What bugs me is we have great difficulty tracking and accounting for government spending as it is.
This is like a shell game, which shell is the peanut under…
Except they added more shells.
And of coarse they will be golfing funds from one to the other and the smoke-screen will thicken to the point where sunlight could never penetrate.
To all who believe the dollar is worthless, step on up and allow me to unburden you. And in case you missed it, people buy crapptocoin for what reason? Thats right, in hope of ending up with more USD. Listen up boys and girls, pot is destroying your brain.