US Lawmakers to Host ‘Crypto Week’

The US House of Representatives announced a ‘Crypto Week’ from July 14 to 18, during which three key digital asset bills will be considered.

The initiative was proposed by Speaker Mike Johnson, Chairman of the Financial Services Committee French Hill, and Chairman of the Agriculture Committee Glenn Thompson.

This move aims to implement President Donald Trump’s cryptocurrency agenda.

The initiatives on stablecoins, digital asset market structure, and CBDC will be put to a vote.

Stablecoin Legislation

The House of Representatives appears to favor the Senate’s GENIUS Act over its own similar document, known as the STABLE Act. Trump expressed a desire for the former to be adopted as soon as possible, before Congress takes its month-long recess in August.

Since the Senate has already approved this bill with bipartisan support, if the House passes it without amendments, it will go directly to the president for signing.

The key difference between the two bills lies in oversight: the STABLE Act provides for strict federal control over stablecoin issuers, while the GENIUS Act allows for state-level oversight.

Cryptomarket Structure Bill

The second bill under consideration is the CLARITY Act, which defines the jurisdiction of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) concerning cryptocurrencies. It will require most crypto exchanges to register with the CFTC and establish rules for disclosure, record-keeping, and the separation of corporate and client funds.

The document has already passed through the relevant committees and awaits a vote by the full House, after which it will need Senate approval.

Anti-CBDC Bill

The third initiative (Anti-CBDC Surveillance State Act) aims to prohibit the US Federal Reserve from issuing a central bank digital currency directly to citizens. Bill author Tom Emmer argues that this will protect Americans’ right to financial privacy. To expedite the process, an identical bill was introduced in the Senate.

These initiatives have faced criticism from the Democratic Party. One reason is the growing involvement of the Trump family in the crypto industry. According to Bloomberg, the president’s family may have earned around $620 million from related projects, including the DeFi platform World Liberty Financial and the meme coins TRUMP and MELANIA.

“By sending these three bills to President Trump’s desk, we will protect Americans’ financial privacy and make the United States the world’s cryptocurrency capital,” Emmer concluded.

In June, Federal Reserve Chairman Jerome Powell supported the regulation of stablecoins in the US.