The US House Financial Services Committee has designated the week starting July 14 as ‘Crypto Week’ to advance deliberation on three landmark cryptocurrency bills. This initiative seeks to establish regulatory clarity and promote industry innovation through targeted legislative reforms.
Lawmakers will review the CLARITY Act, which proposes designating the Commodity Futures Trading Commission (CFTC) as the sole regulator for digital commodities. The bill faces criticism over potential implications for investor safeguards while aiming to resolve jurisdictional ambiguities.
A bipartisan-backed GENIUS Act will establish comprehensive regulatory standards for stablecoin issuers, including Bank Secrecy Act compliance and insolvency protocols. The bill demonstrates strong legislative support with a high-probability outlook for passage.
The Anti-CBDC Surveillance State Act will also be debated, seeking to prohibit the Federal Reserve from developing or deploying a central bank digital currency. Proposed restrictions cite monetary policy limitations and privacy preservation as primary motivations.
Industry leaders including Coinbase CEO Brian Armstrong endorse the legislative package, highlighting bipartisan cooperation and sector-wide advocacy. Passage likelihood varies significantly between bills according to expert analyses.
The outcomes of Crypto Week deliberations could determine foundational standards for US digital asset markets, potentially reshaping innovation trajectories and financial stability frameworks.