House passes Genius Act and Market Structure Clarity Act in bipartisan vote

Summary

The House passed the Genius Act and the Market Structure Clarity Act in an overwhelmingly bipartisan vote, marking the first major congressional action on stablecoin regulation. The Genius Act heads to the president's desk for signature. The Market Structure Clarity Act moves to the Senate.

Chris Dixon, a partner at Andreessen Horowitz, called the passage a watershed moment. "The House just made history," he posted, noting that crypto now has "comprehensive proactive rules in place for the first time." Dixon credited bipartisan support from co-sponsors on both sides of the aisle and identified the Senate as the next hurdle for the Clarity Act.