In a surprising turn of events, the House of Representatives’ “Crypto Week” got off to a rocky start on Tuesday with the failure of a procedural vote hoping to bundle the GENIUS Act, the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Department of Defense Appropriations Bill into one vote. The vote failed 196-223 with many Republicans voting out-of-party-line. Now each bill will be voted upon individually. The Democratic-led effort to kill the bill cited their main grievances weak as oversight, regulatory arbitrage opportunities, and a lack of consumer protections within the GENIUS and CLARITY Acts, along with a pervasive spirit of corrupt involvements in the crypto industry by the Trump family. There appeared to be little faith in the upside of blockchain and cryptocurrency. Republican supporters of the effort demanded an end to America’s straggling in the crypto regulation race. Other countries like South Korea and EU member nations have already set-up licensing regimes a...
ImpactInvesting.Online explores the intersection of economics, finance, equity, and accountability. Featuring expert commentary, original data, and real-time analysis, the blog covers ESG, impact investing, and socially responsible finance with a focus on how markets can serve the public good. Updated regularly with insights on policy, corporate behavior, and systemic risk.