Crypto Rules on the Move: What You Need to Know

The US House made a big move on Thursday. They passed a law about stablecoins, a type of cryptocurrency. This law is the first of its kind. It aims to control how stablecoins work in the US. The vote was 308 to 122. Stablecoins are different from other cryptocurrencies. Their value is tied to something steady, like the US dollar. This makes them less likely to change in value quickly. The new law will make sure these coins follow US rules against money laundering and sanctions. The law had some trouble before it passed. A group of Republicans, led by Rep. Marjorie Taylor Greene, initially blocked it. They wanted a ban on central bank digital currency. But after talks with President Trump and House leaders, they agreed to support the law. The final vote was long, lasting over 9 hours. The law now goes to President Trump. He has said he wants to sign it. He believes it will make the US the top leader in digital assets. But not everyone agrees. Some Democrats, like Sen. Elizabeth Warren, think the law doesn't protect consumers or national security enough. The law had already passed the Senate in June. It had support from both Democrats and Republicans. Now, it's up to the president to decide if it becomes official.