WASHINGTON: The US House passed landmark cryptocurrency bills on Thursday, delivering on the Trump administration’s embrace of the once-controversial industry.
US lawmakers easily passed the CLARITY Act, which establishes a clearer regulatory framework for cryptocurrencies and other digital assets.
The bill is intended to clarify rules governing the industry and divides regulatory authority between the Securities and Exchange Commission  and the Commodity Futures Trading Commission .
It will now head to the Senate, where Republicans hold a thin majority.
House legislators also easily passed the GENIUS Act, which codifies the use of stablecoins — cryptocurrencies pegged to safe assets like the dollar. That bill was due to immediately go to Trump for his signature to become law.
The GENIUS Act was passed by the Senate last month and sets rules such as requiring issuers to have reserves of assets equal in value to that of their outstanding cryptocurrency.
The raft of legislation comes after years of suspicion against the crypto industry amid the belief that the sector, born out of the success of bitcoin, should be kept on a tight leash and away from mainstream investors.
But after crypto investors poured millions of dollars into his presidential campaign last year, Trump reversed his own doubts about the industry, even launching a Trump meme coin and other ventures as he prepared for his return to the White House.
Trump has, among other moves, appointed crypto advocate Paul Atkins to head the Securities and Exchange Commission .
He has also established a federal “Strategic Bitcoin Reserve” aimed at auditing the government’s bitcoin holdings, which were mainly accumulated by law enforcement from judicial seizures.
The Republican-led House is also considering a bill it calls the Anti-CBDC Surveillance State Act that aims to block the issuance of a central bank digital currency  — a digital dollar issued by the US Federal Reserve.
Republicans argue that a CBDC could enable the federal government to monitor, track, and potentially control the financial transactions of private citizens, undermining privacy and civil liberties.
It would require a not-easily-won passage in the Senate before going to Trump for his signature.
An aborted effort to set the anti-CBDC bill aside caused a furor among a small group of Republicans and delayed the passage of the two other bills before a solution was found.

WASHINGTON: A US federal prosecutor who handled the case of notorious sex offender Jeffrey Epstein and is the daughter of a prominent critic of President Donald Trump has been abruptly fired, US media reported.
Maurene Comey, the daughter of former FBI director James Comey, was dismissed on Wednesday from her position as an assistant US attorney in Manhattan, several major US outlets reported.
The Justice Department declined to confirm Comey’s firing to AFP, saying it would have “no comment on personnel.”
Politico published a message Comey, who spent 10 years in the US attorney’s office, sent to her former colleagues in which she said she had been “summarily fired” by the Justice Department with no reason given.
She also encouraged them not to fall prey to “fear.”
“If a career prosecutor can be fired without reason, fear may seep into the decisions of those who remain,” Comey said. “Do not let that happen. Fear is the tool of a tyrant.”
Comey’s dismissal comes a week after the Justice Department confirmed it had opened an unspecified criminal investigation into her father, a long-time Trump adversary.
It also comes amid mounting pressure on Trump to release material from the probe into Epstein, who committed suicide in a New York prison in 2019 after being charged with sex trafficking.
Comey was among the prosecutors who handled the case involving the wealthy financier, which never went to trial because of his death.
She also prosecuted Ghislaine Maxwell, the only former Epstein associate who has been criminally charged in connection with his activities.
Trump is facing the most serious split in his loyal right-wing base since he returned to power over claims his administration is covering up lurid details of Epstein’s crimes to protect rich and powerful figures.
The Trump-supporting far-right has long latched on to the scandal, claiming the existence of a still-secret list of Epstein’s powerful clients and that the late financier was in fact murdered in his cell as part of a cover-up.
The Justice Department and FBI said this month that there was no evidence that Epstein kept a “client list” or was blackmailing powerful figures.
Comey’s father, the former FBI chief, has had a contentious history with Trump dating back to his first term in the White House.
Trump fired Comey in 2017 as the then-FBI chief was leading an investigation into whether any members of the Trump campaign had colluded with Moscow to sway the 2016 presidential vote, in which the Republican beat Democratic candidate Hillary Clinton.
Since taking office in January, Trump has taken a number of punitive measures against his perceived enemies, stripping former officials of their security clearances and protective details, targeting law firms involved in past cases against him and pulling federal funding from universities.