**House Passes Key Bills on Defense Funding and Digital Currency Regulation**

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29 days ago - Politics

House Approves Key Bills to Impact Defense and Digital Currency Regulations

In a significant event in Congress, House Republicans voted in favor of discussing four important bills that could change how military funding and digital transactions work.

The House passed a resolution allowing lawmakers to consider the following:

  1. Funding for the Department of Defense: The first bill will allocate money for the Department of Defense for the fiscal year ending September 30, 2026. This funding is crucial to support military operations and ensure national security.

  2. Regulation of Digital Commodities: The second bill aims to regulate the sale of digital goods, including cryptocurrencies. Under this bill, two government agencies, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), will monitor how these digital assets are sold. This means that people buying or selling cryptocurrencies will have safer transactions.

  3. Changes to Federal Reserve Operations: The third bill proposes to limit the Federal Reserve's ability to provide certain services directly to individuals, like loans. Additionally, it seeks to stop the Federal Reserve from using a central bank digital currency for managing overall money supply. This would give the Federal Reserve less control over digital money, affecting how money is issued and controlled.

  4. Stablecoin Regulations: The last bill focuses on payment stablecoins, which are digital coins designed to have a stable value. Similar to the other bills, this initiative aims to ensure proper rules and protections in the growing area of digital currencies.

Passing this resolution means that Congress will be able to debate and possibly vote on these important bills, which may lead to safer trading of digital goods, better funding for military services, and more rules governing both the Federal Reserve and new types of digital currencies. These changes could influence our economy and security for the coming years.

This is a resolution about several important bills in Congress related to money and regulations.

  1. Defense Funding: The first bill will allocate money to the Department of Defense for the year ending September 30, 2026. This means the government will spend money to keep the military strong and ready.

  2. Digital Commodities Regulation: The second bill will create rules for buying and selling digital goods online, like cryptocurrencies. This is to make sure people can trade safely and legally.

  3. Federal Reserve Changes: The third bill aims to stop the Federal Reserve from giving certain services directly to people and prevents the Federal Reserve from using digital money to control economic policy. This means people won't get loans or services directly from the Federal Reserve.

  4. Payment Stablecoins Regulation: The last bill will set rules for stablecoins, which are a type of digital money tied to the value of regular money. This will help protect people who use these types of payments.

This resolution also allows these bills to be discussed in the House of Representatives without many formalities that usually slow things down. This makes the process faster and more efficient, helping to ensure that these important matters are addressed sooner rather than later.

421 votes

Yes

211

No

210

Not Voting

11

  1. On agreeing to the resolution Agreed to by recorded vote: 217 - 212 (Roll no. 198).
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  2. Passed/agreed to in House: On agreeing to the resolution Agreed to by recorded vote: 217 - 212 (Roll no. 198).
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  3. On motion to reconsider Agreed to by the Yeas and Nays: 215 - 211 (Roll no. 197).
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  4. Considered as unfinished business.
  5. POSTPONED PROCEEDINGS - The Chair put the question on the motion to reconsider and by voice vote, announced that the ayes had prevailed. Mr. McGovern demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
  6. Mr. Scalise moved to reconsider the vote.
  7. Failed of passage/not agreed to in House On agreeing to the resolution Failed by recorded vote: 196 - 223 (Roll no. 195).
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  8. On agreeing to the resolution Failed by recorded vote: 196 - 223 (Roll no. 195).
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  9. Considered as unfinished business.
  10. POSTPONED PROCEEDINGS - The Chair put the question on agreeing to the resolution and by voice vote, announced that the ayes had prevailed. Ms. Scanlon demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.
  11. On ordering the previous question Agreed to by the Yeas and Nays: 211 - 210 (Roll no. 194).
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  12. DEBATE - The House proceeded with one hour of debate on H. Res. 580.
  13. Considered as privileged matter.
  14. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
  15. Reported in House

    This is a resolution about several important bills in Congress related to money and regulations.

    1. Defense Funding: The first bill will allocate money to the Department of Defense for the year ending September 30, 2026. This means the government will spend money to keep the military strong and ready.

    2. Digital Commodities Regulation: The second bill will create rules for buying and selling digital goods online, like cryptocurrencies. This is to make sure people can trade safely and legally.

    3. Federal Reserve Changes: The third bill aims to stop the Federal Reserve from giving certain services directly to people and prevents the Federal Reserve from using digital money to control economic policy. This means people won't get loans or services directly from the Federal Reserve.

    4. Payment Stablecoins Regulation: The last bill will set rules for stablecoins, which are a type of digital money tied to the value of regular money. This will help protect people who use these types of payments.

    This resolution also allows these bills to be discussed in the House of Representatives without many formalities that usually slow things down. This makes the process faster and more efficient, helping to ensure that these important matters are addressed sooner rather than later.

  16. Placed on the House Calendar, Calendar No. 37.
  17. The House Committee on Rules reported an original measure, H. Rept. 119-199, by Mr. Jack.