**House Approves Key Bills on Defense Funding and Digital Currency Regulations**

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27 days ago - Politics

House Approves Important Bills, Impacting Defense and Digital Currency

In a significant move, the House of Representatives has approved a resolution to discuss four key bills that could affect many aspects of American life, including national defense and how digital currencies are handled.

House Republicans were the main supporters of this resolution. They voted overwhelmingly in favor of moving forward with discussions on these bills, which indicates a strong agreement among them about the need to act on these important issues.

The first bill, H.R. 4016, focuses on funding for the Department of Defense. This allocation is crucial because it ensures that the military has the necessary resources to operate effectively and maintain national security. The exact amounts of money for different programs are still being worked out, but the approval is a step toward securing these funds.

The second bill, H.R. 3633, aims to establish regulations for the sale of digital commodities, such as cryptocurrencies. It would give two government agencies, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), the authority to oversee how these digital goods are sold. This oversight will help make transactions safer for individuals looking to invest in cryptocurrencies and other digital assets.

The third bill, H.R. 1919, proposes to change how the Federal Reserve operates. If passed, it would prevent the Federal Reserve from directly providing certain services, such as loans, to people. It would also prevent the use of a new type of digital currency from the Federal Reserve to control the economy. This means the Federal Reserve would have less influence over digital money, which could change how money is made and managed.

The last bill, S. 1582, focuses on creating rules for payment stablecoins, digital currencies designed to maintain a steady value. Like the other bills, it aims to provide protection for individuals and ensure that there are clear regulations in place for the fast-growing digital currency market.

Overall, the House’s approval sets the stage for safer trading of digital assets and better funding for the military. These changes could have lasting impacts on the economy and national security, shaping the future for many Americans.

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.

429 votes

Yes

217

No

212

Not Voting

3

  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.