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According to reporter Eleanor Terrett, the U.S. House of Representatives narrowly approved the procedural rules vote with a 217-212 margin, paving the way for votes on key bills such as crypto assets and defense spending. This vote lasted nearly 10 hours, setting a record for the longest vote in the U.S. House of Representatives.
Some Republican lawmakers changed their positions multiple times within 24 hours, from opposition to support and back to opposition, ultimately returning to support. After the procedural vote passed, House leadership promised to include the anti-CBDC( central bank digital currency) clause in the National Defense Authorization Act( NDAA).
The GENIUS bill and the potential CLARITY bill are expected to be submitted to Congress for final voting as early as tomorrow. The GENIUS bill is seen as an important step towards modernizing financial regulation, which includes strict reserve requirements for stablecoin issuers and clauses limiting CBDC development.