The U.S. House of Representatives recently set a record by delaying a crypto bill vote for over seven hours and 24 minutes, which is the longest in chamber history. This marks a significant moment in the ongoing debates surrounding cryptocurrency regulation.

Key Points:

• The vote included a package of cryptocurrency bills, notably the controversial GENIUS Act, which aims to regulate federal oversight of digital currency.
• A failure to pass these bills could lead to a downturn in the crypto market. Meanwhile, a new presale initiative has reportedly raised over $3 million.

Crypto Bills Hit GOP Turmoil

Several Republican representatives stood firmly against the GENIUS Act, despite pressure from Speaker Mike Johnson to secure votes. After prolonged discussions, the GENIUS Act passed, inching its way toward being signed into law by President Donald Trump.

The act stipulates that stablecoins must be backed by proof of reserves, but further regulatory clarity is needed for a wider market embrace, which the CLARITY Act hopes to provide.

Noteworthy Quotes:

“This is about more than crypto. It’s about whether the House always has to bow to the Senate,” stated a senior Republican aide to FOX News.

Insights on Crypto Trends

Amid current debates, the presale for Bitcoin Hyper, a project aiming to merge Solana’s speed with Bitcoin’s security, is gaining traction, with its presale surpassing $3 million.

Engage in this evolving landscape of cryptocurrency by following further updates and assessments.