- US Home handed all three key crypto payments: the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act.
- Regardless of the “historic” legislative wins, crypto markets remained flat, with Bitcoin down 0.89% to $118,849.
- The GENIUS Act (stablecoins) is the primary main crypto invoice to clear each chambers and is now on President Trump’s desk.
The US Home of Representatives has delivered every week of landmark legislative victories for the cryptocurrency trade, passing all three key payments aimed toward offering long-sought regulatory readability.
Nonetheless, in a putting show of market apathy, this historic breakthrough in Washington has been met with a collective shrug from crypto merchants, with costs remaining largely flat.
In what many trade proponents are calling a watershed second, the US Home has now handed the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act.
The CLARITY Act, which handed by a robust vote of 294 to 134, goals to determine clear pointers for classifying digital belongings as both securities beneath the purview of the Securities and Trade Fee (SEC) or as commodities beneath the Commodity Futures Buying and selling Fee (CFTC).
The Anti-CBDC Surveillance State Act, which handed by a a lot narrower 219 to 217 vote, successfully bans the Federal Reserve from issuing and even testing a central financial institution digital foreign money with out express Congressional approval. Each of those payments will now advance to the Senate, the place their future stays unsure.
Essentially the most vital of the three, the GENIUS Act, which creates a regulatory framework for stablecoins, has already cleared each chambers of Congress. Having beforehand handed the Senate with a 68 to 30 vote, it sailed via the Home this week with a decisive 308 to 122 vote.
This invoice is now on President Trump’s desk, making it the primary main piece of crypto-focused laws on monitor to turn into US legislation.
Regardless of these monumental legislative achievements, the crypto markets have remained conspicuously unfazed. Bitcoin (BTC) is at present buying and selling at $118,849, down 0.89% over the previous 24 hours. Ethereum (ETH) is hovering at $3,389, down 0.27%.
The broader altcoin market has additionally been largely muted. The one notable exception is XRP, which is up over 8% on the day, persevering with a robust bullish run it has maintained all through the week.
The market’s tepid response is additional evidenced by liquidation information. In response to Coinglass, 150,169 merchants had been liquidated up to now 24 hours, with complete liquidations reaching almost $490 million.
The most important single liquidation was a $3.21 million ETH-USDT lengthy place on the crypto alternate HTX, an indication of the uneven, directionless buying and selling that has characterised the market.
A story of two markets: crypto stalls as Wall Avenue soars
The crypto market’s indifference stands in stark distinction to the exuberance seen in conventional inventory markets.
Main US indexes surged to recent report highs on Friday, as upbeat company earnings and stronger-than-expected financial information lifted investor sentiment.
The S&P 500 jumped 0.54% to a brand new report shut of 6,297.36, marking its ninth all-time closing excessive of the 12 months. The tech-heavy Nasdaq Composite additionally hit its tenth report of 2025, climbing 0.74% to complete at 20,884.27, pushed by energy in main tech shares.
The Dow Jones Industrial Common rose 229.71 factors, or 0.52%, to shut at 44,484.49.
This rally in equities was supported by robust financial information, together with a retail gross sales report for June that got here in at 0.6%, beating expectations of 0.2%, and a drop in jobless claims, each signaling a still-resilient US economic system.
Robust earnings reviews from corporations like PepsiCo and United Airways additional boosted optimism because the second-quarter earnings season will get underway.
This divergence highlights a curious second in markets, the place a big, long-awaited regulatory victory for crypto has did not generate the sort of bullish pleasure at present being seen on Wall Avenue.
