US Crypto Week kicks off with 'Dictator' stablecoin amendment on the table
2025-07-14 18:26:57
Main Idea
The US House of Representatives is considering amendments to three crypto-related bills as part of 'crypto week', focusing on CBDCs, digital asset market structure, and stablecoins, with partisan debates over industry influence and regulatory clarity.
Key Points
1. The House Committee on Rules will discuss the Anti-CBDC Surveillance State Act, the CLARITY Act, and the GENIUS Act during 'crypto week'.
2. The GENIUS Act, a Republican priority, aims to establish regulatory clarity for stablecoins and has bipartisan support.
3. Democratic lawmakers criticize the bills as being overly influenced by the crypto industry, citing potential conflicts of interest.
4. An amendment to the GENIUS Act proposes blocking US presidents and vice presidents from issuing stablecoins, possibly referencing El Salvador's President Nayib Bukele.
5. Republican Representative Warren Davidson proposed a provision ensuring individuals' lawful custody of digital assets, mirroring language in the CLARITY Act.
Description
The House of Representatives is set to vote on three crypto-related pieces of legislation before Congress goes on recess.
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