According to the right-wing rebellion, the house fits over the historical crypto-bill, the Genius Act

Washington -The house adopted a pioneering law to regulate cryptocurrency on Thursday after his fate appeared in the balance when the right republicans staged a rebellion that brought the ground to a standstill.

The bill, known as the Genius Actis the first major crypto legislation ever adopted by the congress. It is now going to President Trump's desk.

There was a cross -party vote of 308 to 122, with 206 Republicans and 102 Democrats supported.

On Tuesday, a dozen conservatives pursued a procedural vote to advance three crypto calculations, including the Genius Act, which sets a regulatory framework for the 250 -billion dollar market for the market for determining a regulatory law Stable coinsA kind of cryptocurrency bound with the value of a wealth value such as the US dollar.

The spokesman for the House, Mike Johnson, a Republican from Louisiana, abruptly stopped the remaining floor voices and the holding stops went to the White House to meet Mr. Trump, who later announced that they “all agreed” to bring themselves into harmony.

However, the drama developed during the proceedings on Wednesday, when some holdingouts initially voted against the further development before they dropped their opposition, which was short -lived. The next procedural vote for the establishment of a debate about the billing regulation was opened for almost 10 hours when the holdouts tried to bring together a wider market structure law with laws to prohibit a digital currency of the central bank.

Republican MP Andy Harris from Maryland, who heads the conservative House Freedom Caucus, said that Holdouts had made a contract with Mr. Trump to pack the two digital asset measures.

The plan came across the opposition of those who wrote the legislation and written what the Republicans called the Republicans described as “Crypto Week”.

The Republicans from House originally wanted the Genius Act to be married to the Clarity Act, a broader bill that defines the rules when a digital assets are regarded as goods or security. The combination of the crypta calculations would have sent the legislation back to the Senate and slowed down the process. Mr. Trump had pushed the congress to quickly exist as an independent legislative template, and said that the United States would make the United States a leading company in digital assets.

This week, conservatives urged the Clarity Act to combine the controversial anti-Central Bank Digital Currency Surveillance State Act, which would ban the Federal Reserve to issue a digital currency of the central bank. The conservatives said that the Senate StableCoin Act and the more comprehensive market structure legislation were not sufficient, since this would enable a digital central bank to be against.

“We have the feeling that we have to do with all of this at the same time,” said Republican MP Chip Roy from Texas, who contributed to breastfeeding the bill.

A deal was ultimately completed on Wednesday Tie the prohibition of a digital currency of the central bank with the law on the re-authorization of the Must-Pass-year defense defense and holdout again for your votes so that the legislative procedure further develops.

The Senate approved the cross -party stable coin calculation Last month, after a democratic uprising about concerns regarding the business companies of the Trump family, the crypto, and the potential that he could make the president susceptible to foreign influences was experienced by a democratic uprising.

Have the cryptoinvestment of the Trump family increased their prosperity by billions from Dollars in the past few months, when the administration continues to relax the regulatory approach of the federal government for the entire digital currency industry. The White House denied that there are conflicts of interest and said Mr. Trump's assets are in a trust that is managed by his children.

Democratic critics also feared that legislation did not contain enough provisions to protect consumers, financial system and national security.

It has similar criticism from house democrats.

“By adopting this law, the world's congress is communicated that the congress is okay with corruption and that foreign companies are bought,” said Rep. Maxine Waters of California, the top democrat of the House Financial Services Committee, on Thursday.

Democrats who support legislation have argued that regulations are long overdue, even if the measure is imperfect.

“The question is, do you want some rules of the street or no rules on the street?” Democratic MP Josh Gotheimer from New Jersey said during the ground debate.

The wider market structure calculation was also adopted with cross -party support and is now going to the Senate. The legislation on the ban on a digital currency of the central bank was largely approved according to party borders.