The United States House of Representatives is preparing to take a historic step in the field of digital assets by declaring the week of July 14 as “Crypto Week.” Three important bills are expected to be on the House agenda during this process: the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act. The bills are seen as part of President Donald Trump's goal of making the US “the crypto capital of the world.”
French Hill, Chairman of the House Financial Services Committee, said in a statement, “We are taking historic steps to ensure that the US remains a leader in innovation,” highlighting the importance of establishing a legal framework for both investors and consumers. Hill also noted that priority will be given to issues such as the regulation of payment-based stablecoins and the prohibition of central bank digital currency (CBDC) as part of “Crypto Week.”
GENIUS Act: Clear rules coming for stablecoins
The GENIUS Act, which was approved by the Senate in June and is now before the House of Representatives, requires stablecoin companies to operate with full reserves in US dollars or similar liquid assets. The bill, which imposes an annual audit requirement on companies with a market value exceeding $50 billion, also sets rules for foreign companies. President Trump has made it clear that he wants the bill to be signed by August.
Following discussions on the House's own version, the STABLE Act, which was previously on the agenda, members are expected to focus on the version passed by the Senate. This approach aims to speed up the process and align with President Trump's requested timeline.
CLARITY Act: CFTC takes center stage
The CLARITY Act aims to end regulatory uncertainty in the cryptocurrency market. The bill proposes to transfer oversight of digital commodities to the US Commodity Futures Trading Commission (CFTC) while limiting the authority of the Securities and Exchange Commission (SEC). Representative Glenn Thompson, who supports the bill, emphasized that they are responding to the industry's calls by saying, “We are providing the long-awaited regulatory clarity.”
Anti-CBDC Act: No Passage for the Digital Dollar
Another important bill to be discussed during Crypto Week is the Anti-CBDC Surveillance State Act. This law aims to prevent the US Federal Reserve (Fed) from offering individuals direct central bank digital currency. Republican Whip Tom Emmer, who introduced the bill, stated that this initiative is critical to protecting the financial privacy of the American people. “When we send these three bills to President Trump's desk, we will position the US as a leader in digital assets,” he said.
While the bills are advancing with Republican support, criticism is also coming from the Democratic side. In particular, President Trump's interest in cryptocurrency and the reported $620 million in income his family has earned from cryptocurrency projects are sparking debate. Democrats argue that some parts of the bills were rushed through and not adequately reviewed.
