House Passes GENIUS Act and Two Other Crypto Bills – Karoline Leavitt Says Bill Signing Ceremony Expected Tomorrow
House Republicans passed three crypto bills, including the Senate-approved Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which creates regulations on “stablecoins” on Thursday.
Per Forbes:
The House passed the stablecoin bill, known as the Guiding And Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, in a 308-222 vote, sending it to Trump’s desk for a signature.
The House approved the rules for debate for the three bills late Wednesday, clearing a procedural hurdle to tee them up for final votes Thursday, after the initial rules vote failed amid a conservative revolt.
House Speaker Mike Johnson, R-La., told reporters “I do,” when asked if he expects all three bills to pass Thursday.
Thirteen, including Reps. Anna Paulina Luna, R-Fla., Scott Perry, R-Pa., Chip Roy, R-Texas, Victoria Spartz, R-Ind., Michael Cloud, R-Texas, and Marjorie Taylor Greene, R-Ga., among others, vote against the initial procedural motion Tuesday. Rep. Steve Scalise, R-La., who supports the bills, also changed his vote to a “no” to allow him to reintroduce the legislation later. They ultimately changed their votes when the Anti-CBDC Act was merged with the NDAA, resulting in a 217-212 vote to advance the bills after the vote remained open for a record nine hours.
Ahead of the votes, White House Press Secretary Karoline Leavitt was asked by Bitcoin Magazine’s political correspondent, Frank Corva, about the GENIUS Act and the President’s plan for a de minimis exemption for crypto. She revealed that the President is planning to sign the GENIUS Act tomorrow afternoon.
She further clarified that the President is opposed to a central bank digital currency under the Fed, which the House passed a ban for on Thursday.
WATCH:
Corva: I was curious to hear if the President was in favor of removing any and all language around central bank digital currencies from the GENIUS act, maybe as a means to get it across the line and get it on his desk. And then my second question was about something the President spoke about in this room. He talked about a $600 de minimis tax exemption for Bitcoin and other crypto spending. So just wanted to get your comment on this.
Leavitt: Well, the President did signal his support for a de minimis exemption for crypto, and the administration continues to be in support of that. We are definitely receptive to it to make crypto payments easier and more efficient for those who seek to use crypto as simple as buying a cup of coffee. Of course, right now, that cannot happen, but with the de minimis exemption, perhaps it could in the future, and we will continue to explore legislative solutions to accomplish that. As for the central bank digital currency, and the GENIUS Act, which you noted, has passed through Congress and will be sent to the President’s desk. I believe the house is voting on it. If they have it, they should be passing it. We know we have the votes, and we expect it to get to the President’s desk. And we are planning a signing ceremony tomorrow afternoon. All of you will get more details on that. This piece of legislation is going to make America the Crypto Capital of the world, and that’s what the President promised. As for a central bank digital currency, the President opposes that. He made that promise to the American people on the campaign, and while it’s not in this specific piece of legislation, he did sign a January executive order banning a central bank’s digital currency. The administration supports Congress’s efforts to codify that executive order into law, and I believe there will be future pieces of legislation in regards to crypto that will be moving through Capitol Hill. The President looks forward to signing them, and he looks forward to signing ceremony this afternoon.
The House later began voting on the three bills, sending the GENIUS Act to President Trump’s desk, and passing the Digital Asset Market Clarity Act, which provides a framework to address confusion over the categorization of digital assets, as well as a bill barring the Federal Reserve from creating a digital currency. The latter two bills will now be transmitted to the Senate.
The Clarity Act passed along party lines, with 78 Democrats joining Republicans.
House approves the Clarity Act, establishing “lanes” for regulation when it comes to cryptocurrency. The vote: 294-134. 78 Dems voted yes. All 134 noes were Dems
— Chad Pergram (@ChadPergram) July 17, 2025
The GENIUS Act passed with 12 Republicans voting against.
House passes the GENIUS Act the establish a regulatory framework for “stablecoins” – which are pegged to other currencies. The vote: 308-122. 110 Democrats voted nay. 12 GOPers voted no
— Chad Pergram (@ChadPergram) July 17, 2025
The third bill banning a central digital bank currency passed 219-210.
House approves 3rd crypto bill, to bar the Fed from creating a digital currency. The vote: Act 219-210
— Chad Pergram (@ChadPergram) July 17, 2025
According to Barron’s, Benchmark analyst Mark Palmer says, “If passed, the bills could open the floodgates for new crypto use cases, corporate adoption, and institutional investment.”
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