“WASHINGTON -- The House of Representatives advanced three bills Thursday aimed at setting up regulations for cryptocurrencies, continuing the industry's recent momentum on Capitol Hill.
In a bipartisan 308-122 vote on Thursday, the House passed a bill laying out standards for stablecoins, a popular type of digital currency whose price is pegged to the dollar or other traditional currency. The bill, called the Genius Act, passed the Senate in June and is now poised to become the first-ever U.S. piece of crypto legislation once President Trump signs it into law, as he has indicated he would.
The House also passed a broader bill laying out rules for crypto exchanges, brokers and issuers. The legislation determines which regulators will oversee the digital-asset markets and will now go to the Senate.
"It's critically important we bring more certainty to the marketplace with clear rules of the road," said Rep. Josh Gottheimer (D., N.J.), one of the Democrats who supported the two GOP-led bills.
The third bill passed by lawmakers would ban central-bank digital currencies.
Crypto companies such as Coinbase Global and Circle have sought legislation to bring regulatory clarity to their businesses after costly battles with regulators under the Biden administration. They found allies in Trump and many Republicans after pouring money into last year's election.
House leadership declared this to be "Crypto Week" with the chamber moving ahead with long-simmering legislation.
The industry has been expanding in the U.S. since the election, attracted by the administration's loose approach to crypto regulations and the prospect of legislation passing in Congress. Bitcoin [1] prices surged to record highs above $120,000 on Monday.
The president rallied support earlier in the week from Republican lawmakers who blocked procedural votes over concerns about the Federal Reserve issuing a central-bank digital currency. Some conservatives worry that a centralized digital currency could be used for government surveillance.
Members of the Freedom Caucus and others who raised concerns eventually got on board after House leadership agreed to attach a provision banning a central-bank digital currency to an annual defense spending bill that must be passed.
Some Democrats raised conflict of interest concerns, given Trump is expected to sign a bill into law regulating an industry where his family has active business interests. But many lawmakers said setting up regulations was the best way to address those concerns and create a level playing field.
"None of this is going to be perfect, but it's time that we get it codified so that we can move forward to know what the rules are," House Majority Whip Tom Emmer (R., Minn.) said in a recent interview.
The Senate still faces a bumpy path to passing its own broad crypto market bill, which could be significantly different and need to eventually be reconciled with the House version.
Coinbase and Circle are co-hosting a party to mark the legislative wins. The administration has invited some industry executives to the White House on Friday, when Trump is expected to sign the stablecoin bill, according to people familiar with the matter.” [2]
1. Is Bitcoin filling the role of gold in the crypto community?
Yes, Bitcoin is increasingly seen and used by the "crypto crowd" as a form of "digital gold," fulfilling a similar role to traditional gold as a store of value and hedge against inflation.
Here's why:
Scarcity: Like gold's limited supply on Earth, Bitcoin has a fixed and verifiable maximum supply of 21 million coins, programmed into its code. This inherent scarcity is a core argument for its value preservation.
Decentralization: Bitcoin's decentralized network, managed by a distributed ledger (blockchain) and supported by a global network of users, makes it resistant to government censorship or control over its monetary policy, according to Fidelity Digital Assets. This provides a potential hedge against the devaluation of fiat currencies (traditional money issued by governments) according to Fidelity Digital Assets.
Growing Acceptance: While still volatile, Bitcoin's acceptance and infrastructure have matured considerably. Spot Bitcoin ETFs in the US, for example, have made it easier for institutional and retail investors to gain exposure to Bitcoin within a regulated framework, notes CoinGecko. This growing mainstream adoption strengthens its legitimacy as a store of value.
Diversification Potential: Some see Bitcoin as a way to diversify portfolios, potentially offering uncorrelated returns compared to traditional assets like stocks and bonds.
Similarities to gold
Both gold and Bitcoin are seen as assets with limited supply, making them potential hedges against inflation.
Both are often considered alternatives to traditional fiat currencies, especially in times of economic uncertainty.
Both have been used as a way to preserve wealth over time.
Key differences from gold
Volatility: Bitcoin's price is significantly more volatile than gold's. This means higher potential returns but also higher risk, according to CoinGecko.
History and Societal Acceptance: Gold has a long and established history as a store of value spanning millennia, deeply embedded in cultures and financial systems. Bitcoin, launched in 2009, has a much shorter track record.
Tangibility: Gold is a physical commodity with intrinsic uses in jewelry and industry, while Bitcoin is purely digital and relies on a digital network and infrastructure.
Regulatory Environment: Bitcoin's regulatory landscape is still evolving, with varying levels of acceptance and oversight across jurisdictions. Gold, while subject to regulations, is more established in traditional finance.
In essence
The crypto community increasingly views Bitcoin as "digital gold" due to its scarcity, decentralization, and growing acceptance. However, investors should consider Bitcoin's higher volatility and shorter history compared to traditional gold when evaluating its suitability as a store of value or inflation hedge. Many investors choose to hold both assets in their portfolio to balance stability with growth potential.
2. U.S. News: Crypto Bills Advance After Trump Rallies GOP. Ramkumar, Amrith. Wall Street Journal, Eastern edition; New York, N.Y.. 18 July 2025: A4.
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