Decisions Made in Washington This ‘Crypto Week’ to Directly Affect Your Crypto Wallet

Key Points

1. Three major bills are being considered: the CLARITY Act (defining securities vs. commodities in crypto), the GENIUS Act (regulating stablecoins), and the Anti-CBDC Surveillance State Act (blocking the Fed from issuing a CBDC).

2. China’s Q2 GDP and US CPI (Consumer Inflation) reports are scheduled this week, which could influence global market sentiment and crypto prices.

3. Additional US economic reports, including PPI, Initial Jobless Claims, Philadelphia Fed Manufacturing Index, and Fed Balance Sheet, may trigger volatility in crypto and equities.

4. The CLARITY Act aims to clarify regulatory jurisdiction between the SEC and CFTC, addressing confusion seen in cases like Ripple vs. SEC.

5. The Anti-CBDC Surveillance State Act is supported by those concerned about government overreach in financial privacy.