The House of Representatives passed a cryptocurrency bill on Thursday that was months in the works and that conservative Republicans had held up for days this week.
The GENIUS Act, which was passed by a vote of 308-122 and had 102 Democrats vote with Republicans in support of it, will now head to the White House for President Donald Trump’s signature. Trump had given Congress a deadline of August to get cryptocurrency legislation to his desk.
House Republican leadership managed to get the GENIUS Act to the floor only after two days of negotiations with Republican hard-liners who voted against advancing the legislation on Tuesday. They demanded that the GENIUS Act be packaged with two other pieces of legislation aimed at regulating digital assets and sent back to the Senate, but eventually settled for giving each piece of legislation a separate floor vote.