- The House will vote on stablecoin and CBDC bills during Crypto Week starting July 14.
- The GENIUS Act and CLARITY Act aim to set clear rules for stablecoins and crypto markets.
- Lawmakers want to stop the Federal Reserve from launching a retail digital dollar.
The U.S. House GOP has designated the week of July 14 as “Crypto Week” to vote on three digital asset bills—the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act. This legislative move follows bipartisan momentum from earlier congressional approvals and growing pressure from industry leaders to establish clear regulations for cryptocurrencies. According to a statement released on Thursday, the schedule was confirmed by Speaker Mike Johnson, Financial Services Chair French Hill, and Agriculture Chair GT Thompson.
Lawmakers will debate the GENIUS Act, which mandates fully backed stablecoins with audits and reserve requirements. They will also consider the CLARITY Act to assign regulatory duties and the Anti-CBDC Act to halt a government-issued digital dollar. “House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda,” said Johnson in an official statement.
This week of action marks a significant turning point in Washington’s stance on crypto policy. Could this legislative alignment establish the U.S. as a digital asset leader?
Three Landmark Crypto Bills Face House Vote
The GENIUS Act—short for Guiding and Establishing National Innovation for U.S. Stablecoins—passed the Senate in June with a 68–30 bipartisan vote. It mandates that all dollar-pegged stablecoins be backed 100% by liquid reserves and undergo regular monthly audits. Firms with more than $50 billion in stablecoin liabilities are required to provide annual audits and comply with Anti-Money Laundering (AML) regulations. Foreign issuers must also meet U.S. standards. Lawmakers aim to reduce systemic risk while opening faster payment solutions nationwide.
On the other hand, the CLARITY Act received approval from the House Agriculture Committee (47–6) and Financial Services Committee (32–19). It clarifies which digital assets are regulated by the Commodity Futures Trading Commission (CFTC) as commodities and which fall under the Securities and Exchange Commission (SEC) as securities.
Introduced by Rep. Tom Emmer, this bill seeks to block the Federal Reserve from issuing a retail Central Bank Digital Currency (CBDC). Supporters argue that a government-controlled digital dollar would threaten financial privacy and civil liberties. “We are taking historic steps to ensure the United States remains the world’s leader in innovation,” said Chairman Hill.
Political Stakes and Legislative Momentum
These three bills follow earlier efforts in Congress to regulate the cryptocurrency industry. In May 2024, the FIT21 Act passed the House, setting the groundwork for further digital asset legislation. While the new bills enjoy bipartisan committee support, some Democrats remain cautious, citing investor protection, regulatory reach, and reported connections between Trump’s allies and private stablecoin ventures. President Donald Trump has reportedly requested a “clean” version of the GENIUS Act for signing before August.
Senate Republicans like Bill Hagerty and Tim Scott have expressed readiness to act on the bills once passed by the House. Meanwhile, Sen. Cynthia Lummis of Wyoming praised the move, noting the federal government’s growing alignment with pro-crypto state legislation. “This brings federal policy closer to what we’ve built in the Cowboy State,” she said.
Related: Trump’s “One Big Beautiful Bill” Sparks Clash Over Crypto, Rates, and Subsidies
Market Response and Global Concerns
The crypto industry lauded the Senate’s passage of the GENIUS Act. Coinbase shares rose on the expectations of great growth in Coinbase Payments and options for new merchant integrations. The certainty around stablecoin activities under the legislation is believed to open up opportunities that could lead to wider adoption in the e-commerce and fintech sectors.
Still, international players voiced concern. Reuters reported that Amundi and the Bank for International Settlements (BIS) warned that U.S. stablecoin dominance could “dollarize” foreign economies and disrupt global payment systems. Critics, including progressive Democrats, have also highlighted potential conflicts associated with Trump-affiliated stablecoins and corporate tech influence over token issuance.
If these bills get enacted, their implementation will drastically change the environment for digital assets within the U.S. They will bring enhanced consumer protections, defined regulatory oversight, and restraints on central bank surveillance powers, thus setting the stage for the U.S. to emerge as a world leader in the area of digital finance. This, however, will likely mean careful negotiations between House Republicans and Senate Democrats before the bills see final approval.
