The U.S. House of Representatives has designated July 14–18, 2025, as “Crypto Week” to discuss and vote on three key cryptocurrency-related bills: the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act. Announced by House Financial Services Committee Chair French Hill, House Agriculture Committee Chair GT Thompson, and Speaker Mike Johnson, this initiative aims to advance President Trump’s pro-crypto agenda and position the U.S. as a global leader in digital assets.
GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act): Establishes a regulatory framework for dollar-backed stablecoins, integrating them into the financial system to enhance liquidity and support U.S. dollar dominance. Passed the Senate with bipartisan support in June 2025 and awaits a House vote. The House is prioritizing this over its own STABLE Act, though amendments may be proposed, potentially requiring Senate reconciliation.
The GENIUS Act could drive institutional investment and increase stablecoin adoption, with companies like Tether already investing heavily in Treasury bonds. Critics argue it favors fiat systems over decentralized finance (DeFi).
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CLARITY Act (Digital Asset Market Clarity Act): Defines regulatory roles for the SEC and CFTC, classifying crypto assets as securities or commodities to reduce regulatory uncertainty. It requires crypto exchanges to register with the CFTC, mandates customer fund segregation, and exempts DeFi developers from some SEC oversight. Advanced by the House Financial Services (32-19) and Agriculture Committees (47-6) in June 2025, awaiting a full House vote. It still needs Senate approval.
The CLARITY Act aims to protect consumers and clarify token classification, potentially boosting market confidence. Some, including former CFTC Chair Tom Massad, criticize its flexible language for possible regulatory gaps. It prohibits the Federal Reserve from developing, testing, or issuing a central bank digital currency (CBDC), citing concerns over government overreach and surveillance. Passed the House Financial Services Committee in April 2025 (27-22) but awaits Senate approval.
Its favors cryptocurrencies by limiting CBDC competition, though some argue a digital dollar could modernize payments and maintain global competitiveness. Crypto Week follows the passage of Trump’s “Big Beautiful Bill,” signaling Republican momentum to deliver on crypto-friendly policies. The bills aim to provide regulatory clarity, encourage innovation, and protect consumers, potentially triggering a crypto market bull run, with Bitcoin recently trading at $110,128.
Regulatory clarity from the GENIUS and CLARITY Acts could attract institutional capital, driving development of blockchain infrastructure, such as faster consensus mechanisms, scalability solutions, and cross-chain bridges. Bitcoin’s recent price of $109,128 reflects market optimism, which could fuel funding for blockchain startups.
While the bills promote blockchain-based assets like stablecoins and cryptocurrencies, their focus on regulated entities (e.g., exchanges, stablecoin issuers) may favor centralized or semi-centralized blockchain solutions over fully decentralized ones, potentially stifling grassroots innovation.
If passed, these bills could position the U.S. as a hub for blockchain innovation by providing a clear legal framework, attracting developers and companies. However, opposition from some Democrats and potential Senate delays could temper this impact, especially if other nations (e.g., EU, Singapore) move faster on crypto regulation.
However, Democratic opposition, led by figures like Sen. Elizabeth Warren, cites concerns over Trump’s financial ties to crypto ventures (e.g., World Liberty Financial) and insufficient consumer protections. If passed, these bills could reduce regulatory uncertainty, attract institutional investors, and strengthen the U.S. position in global blockchain innovation, though challenges remain in reconciling House and Senate versions and addressing bipartisan concerns.