crypto.news 2025-07-04 07:42:53

U.S. House declares July 14 ‘Crypto Week’ in advance landmark digital asset legislation

The U.S. House has announced July 14 will mark the beginning of a “Crypto Week” to advance key legislation on digital assets. The U.S. House of Representatives has officially designated the week of July 14 as “Crypto Week,” during which lawmakers will vote on three major pieces of digital asset legislation: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act. Led by Financial Services Committee Chairman French Hill and Agriculture Committee Chairman GT Thompson, the initiative aims to establish a clear regulatory framework for digital assets, regulate dollar-backed stablecoins, and block the creation of U.S. central bank digital currencies. “These pieces of legislation further the President’s pro-growth and pro-business agenda, and provide a clear regulatory framework for digital assets,” commented Majority Leader Steve Scalise. You might also like: Senator Cynthia Lummis introduces crypto tax bill Each of the three bills heading to the House floor during “Crypto Week” targets a distinct aspect of digital asset regulation. The CLARITY Act proposes a comprehensive framework to define the regulatory boundaries between securities and commodities in the digital asset space. This would give the Commodity Futures Trading Commission and the Securities and Exchange Commission clearer jurisdiction, ending years of ambiguity that have hampered innovation. After being reported out of both the Financial Services Committee (32-19) and the Agriculture Committee (47-6), the CLARITY Act is now scheduled for full House consideration. The GENIUS Act , which passed the Senate in mid-June, focuses on establishing a clear regulatory framework for dollar-backed payment stablecoins. It sets standards for issuance, reserves, and oversight to ensure stability and consumer protection, while encouraging innovation in U.S.-based stablecoin markets. The Anti-CBDC Surveillance State Act seeks to prevent the Federal Reserve from issuing a U.S. central bank digital currency. The bill argues that a CBDC, if controlled directly by the Fed, could infringe on Americans’ financial privacy and be weaponized for government surveillance. This bill passed the Financial Services Committee by a narrower margin (27-22), signaling more partisan debate but strong support within Republican leadership. If enacted, it would make the U.S. the first major economy to legislate a prohibition on a CBDC. You might also like: U.S. Senate passes landmark Genius Act, aiming to bring clarity in stablecoin regulation

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