Fri Jul 18 05:01:43 UTC 2025: Here’s a summary of the text, followed by a news article based on that summary:

**Summary:**

The U.S. House of Representatives has passed three bills aimed at regulating the cryptocurrency industry, driven by President Trump’s ambition to make the U.S. the “crypto capital of the world.” The bills address stablecoins, create a market structure for cryptocurrency (defining which digital assets are commodities vs. securities), and prohibit the Federal Reserve from issuing a central bank digital currency. The stablecoin bill, already passed by the Senate, is headed to Trump’s desk. While the legislation has bipartisan support, it also faces criticism, particularly regarding potential financial risks, loopholes that could benefit President Trump’s crypto ventures, and the possibility of large corporations issuing their own currencies. The crypto industry has heavily lobbied for the bills, seeing them as a step towards mainstream adoption.

**News Article:**

**U.S. House Passes Trio of Crypto Bills, Setting Stage for Regulatory Overhaul**

**WASHINGTON – July 18, 2025** – In a landmark move for the digital asset industry, the U.S. House of Representatives has passed three bills designed to regulate cryptocurrency, spurred by President Donald Trump’s vision of establishing the U.S. as the global leader in the sector. The most significant of the bills, focused on regulating stablecoins, has already cleared the Senate with broad bipartisan support and is now headed to the President’s desk for signature.

The legislation aims to bring legitimacy and consumer protection to the rapidly growing cryptocurrency market. The stablecoin bill, passed with a 308-122 vote, introduces requirements for stablecoin issuers to comply with anti-money laundering and sanction laws, and mandates reserve backing.

The other two bills, which now go to the Senate, address a wider overhaul of cryptocurrency market. One aims to create a clear market structure by defining whether certain digital assets are commodities (regulated by the CFTC) or securities (overseen by the SEC). The third bill prohibits the Federal Reserve from issuing a central bank digital currency, essentially a government-backed digital form of cash.

While the legislation has drawn bipartisan support, it has also sparked significant debate. Critics, particularly Democrats, express concerns about potential loopholes that could benefit President Trump’s own crypto ventures, including his reported $57.35 million earnings from token sales at World Liberty Financial. Concerns are also being raised about the potential for large corporations, like Elon Musk’s and Mark Zuckerberg’s companies, to issue their own private currencies under the new framework.

“These bills will make the United States the center of the world for digital assets,” said Patrick McHenry, Vice Chair of Ondo Finance.

The crypto industry, which has poured significant resources into lobbying efforts, views the passage of these bills as a critical step towards mainstream adoption. The future of the two remaining bills remains uncertain in the Senate, but the passage of the stablecoin legislation marks a turning point in the regulation of cryptocurrency in the United States.

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