Quick Snapshot
- Congress is setting aside the week of July 14 as “Crypto Week” to fast-track important crypto laws.
- Lawmakers plan to focus on the Senate’s GENIUS stablecoin bill and the Clarity crypto market structure act.
- Plus, there’s a bill to stop the Federal Reserve from giving digital dollars directly to everyday Americans.
What’s Going On with Crypto Week?
House Republicans are turning up the heat on crypto this July. In fact, they’ve officially named the week of July 14 as “Crypto Week,” dedicating it to pushing some big crypto bills through Congress.
This move comes right after they passed President Trump’s massive economic plan, so they’re clearly eager to keep the momentum going with digital assets.
Speaker Mike Johnson, along with key committee chairs French Hill and GT Thompson, said they want to fast-track three major crypto bills during that week. Their goal? To get these bills onto President Trump’s desk before August — and that’s a tight timeline.
Why Are They Choosing GENIUS Over the STABLE Act?
At first, the House was thinking about pushing their own stablecoin bill called the STABLE Act. But recently, they decided to switch gears and focus instead on the Senate’s GENIUS bill.
And it makes sense: the GENIUS bill has already passed the Senate, so if the House adopts it, they could speed things up quite a bit.
Plus, President Trump has been clear he wants a stablecoin bill passed by August. Focusing on GENIUS helps meet that deadline.
So, what’s in the GENIUS bill? It requires stablecoins to be fully backed by U.S. dollars or other liquid assets. It also demands yearly audits for big issuers — those with more than $50 billion in market value — and lays out rules for foreign-issued stablecoins.
Meanwhile, the House’s STABLE Act is still waiting for a full vote and has some differences, like letting states have a bigger role in regulating stablecoins.
What About the Clarity Act?
At the same time, Congress will consider the Digital Asset Market Clarity Act, or just Clarity for short. This bill aims to clear up a lot of confusion around crypto regulation.
Specifically, it spells out which government agency — the SEC or the CFTC — regulates what. The bill pushes crypto companies to be more transparent with everyday investors and ensures they keep customer funds separate from company assets. Basically, Clarity is trying to protect investors without slowing down innovation — something the crypto world really needs.
And Then There’s the CBDC Bill
There’s also a bill led by Rep. Tom Emmer that wants to block the Federal Reserve from handing out digital dollars directly to people. Emmer says this is about protecting privacy and making sure the U.S. stays a leader in crypto innovation.
What’s the Bigger Picture?
Republicans say these bills represent President Trump’s vision for digital assets. Speaker Johnson said they’re committed to delivering the “full scope” of Trump’s crypto agenda.
However, Democrats aren’t so sure. Some have criticized the bills partly because of Trump’s own crypto ties. Bloomberg reported that Trump’s family has made around $620 million from crypto ventures, including DeFi projects and meme coins.
On the other hand, Rep. Emmer insists these bills will protect Americans and help the U.S. become the world’s crypto capital. As he put it, “A new day for American excellence has finally arrived.”