This week marked a defining moment for cryptocurrency regulation in the United States. Dubbed “Crypto Week”, Congress advanced three landmark bills—the GENIUS Act, Digital Asset Market CLARITY Act, and Anti‑CBDC Surveillance State Act—with bipartisan support. As the legislative whirlwind reached the White House doorstep, the crypto world watched closely, hoping for a fresh regulatory dawn.
On July 3, the House of Representatives officially designated the week of July 14–18 as “Crypto Week,” putting digital asset legislation center-stage at the nation’s capital. Financial Services Committee Chair French Hill stated it was part of a visionary agenda to make the U.S. the global leader in digital assets, working in lockstep with Agriculture Committee Chair GT Thompson and Speaker Mike Johnson.
1. GENIUS Act: A Stablecoin Game-Changer
The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, led by Senator Bill Hagerty, sailed through both chambers—68–30 in the Senate, 308–122 in the House. It now awaits President Trump’s signature. The law requires full one-for-one backing of stablecoins, monthly reserve audits, and prohibits interest-bearing structures—ushering in clarity and safety for the $250 billion market.
2. CLARITY Act: Clearing the Regulator Fog
The Digital Asset Market CLARITY Act establishes clear jurisdiction between the SEC and CFTC, based on asset characteristics and decentralization. Passed with a bipartisan House vote (294–134), it offers legal certainty to exchanges and token creators, though it still needs Senate approval.
3. Anti‑CBDC Surveillance State Act: A Ban on Digital Dollars
The House also endorsed the Anti‑CBDC legislation, aiming to strip the Federal Reserve of authority to issue a retail Central Bank Digital Currency, citing privacy and surveillance protections. With a 219‑210 vote, it reflects bipartisan unease in the House, though Senate passage remains to be seen.
Crypto Week was notably turbulent. On July 15, a procedural blockage almost derailed the package after internal GOP disagreements—centered on whether the GENIUS Act should be tied to CLARITY or debated separately. After tense negotiations, Speaker Johnson and President Trump prevailed, enabling a clean passage of the stablecoin bill on July 17.
Markets responded quickly. Bitcoin surged past $123,000, Ethereum climbed toward $3,800, and crypto-linked equities—including Coinbase, BitMine, and BTCS—flared upward as optimism swept the space. With stablecoin clarity and regulatory oversight now within reach, industry participants celebrated—but analysts note the journey is still unfolding.
- President’s action: The GENIUS Act is expected to be signed imminently, delivering the first tangible federal crypto law.
- Senate movement: CLARITY and Anti-CBDC Acts must navigate Senate gauntlets—possibly attaching to must-pass bills.
- Implementation timelines: Stablecoin issuers could have up to three years to comply, as highlighted in Barron’s coverage.
- Regulatory realignment: The SEC and CFTC division will be crucial to effective enforcement and clarity.
- Watch for conflicts: Critics point to possible conflicts of interest and lax consumer protections—echoing civil society concerns around corporate influence.
- Legitimization: These bills signal a transition from doubt to recognition—crypto is no longer ignored.
- Institutional readiness: Stablecoin and token issuers can now plan for compliance and product expansion.
- Privacy vs. control: The ban on CBDC emphasizes continued preference for private-sector innovation over state surveillance.
- Market certainty: Clarified regulatory boundaries are likely to encourage more institutional investment and product launches.
“Crypto Week” represents a pivotal moment in U.S. digital asset policy. As Reuters aptly noted, these measures move U.S. crypto closer to the mainstream—“providing structure, support and clarity to the industry”. Though not yet law across the board, they reflect a sweeping shift in tone: away from uncertainty and toward a future where digital assets are integrated responsibly and transparently in the financial system.
Still, hurdles remain: Senate passage, implementation, and regulatory coordination will define whether these bills stand as true breakthroughs—or symbolic gestures stalled in legislative limbo.
As lawmakers and industry watchers await the President’s signature and track Senate movement, the crypto world is keenly observing whether this week’s momentum could spark lasting transformation—or if the real test lies in execution.