The U.S. House of Representatives announced "Crypto Week" to discuss three bills.

The leaders of the Republican Party have announced that the "Cryptocurrency Week" will begin on July 14, aiming to draw attention from Congress to three bills related to Web3. These bills are at various stages in the approval process, but industry supporters will review all of them thoroughly.

Three important bills

Three notable bills include: the GENIUS Act, the CLARITY Act, and the Anti-State Surveillance of CBDC Act. All are related to key issues in the U.S. cryptocurrency regulatory policy.

Prospects for the cryptocurrency week

When the Great Beautiful Bill has passed the final vote, Republican members are actively promoting new legislative initiatives. There are currently many regulations on cryptocurrency awaiting approval by the National Assembly.

Therefore, the leader of the House of Representatives announced that the "Cryptocurrency Week" will officially start on July 14, with the upcoming discussions to be highlighted:

"Republican members in the House are taking decisive steps to realize the full digital asset and cryptocurrency agenda of President Trump. During 'Crypto Week,' the House expects to timely consider three groundbreaking bills: the CLARITY Act, the Anti-State CBDC Surveillance Act, and the Senate's GENIUS Act," said House Speaker Mike Johnson.

GENIUS Act: Regulatory Framework for Stablecoins

Currently, the most prominent bill is the GENIUS Act, a regulatory framework for stablecoins. This bill was passed by the Senate in mid-June, but still requires a final vote from the House of Representatives to confirm its amendments. With the current progress, this bill is likely to benefit from the draw attention during Cryptocurrency Week.

This bill promotes the integration of stablecoins into the financial system, causing Tether to invest tens of billions of dollars in Treasury bonds. Although facing accusations of bias towards the fiat system and undermining the strength of DeFi, it has the potential to play a significant role in Trump's plan for the dominance of the dollar stablecoin.

CLARITY Act: Protecting Consumers and Token Classification

The CLARITY Act is a broader regulatory framework aimed at building consumer protections and classifying tokens. Determining whether an asset is a security or a commodity is a complex issue, and this bill could address many ongoing disputes.

This bill is still under consideration by the Committee, so it is likely to benefit from the draw attention of Crypto Week. Although it has received strong support from the cryptocurrency industry, it has also faced considerable criticism. Former CFTC Chairman Tom Massad has warned about the flexibility of the bill, arguing that the new standards may be too lax and unrealistic to ensure asset quality.

I hope that the upcoming voting rounds and debates will help address any outstanding issues.

Anti-State Surveillance CBDC Act: Less Prominent Objectives

The Anti-State Surveillance CBDC Act is now the least prominent target during Cryptocurrency Week. Strong opposition to CBDC has become a long-term target in several U.S. policy circles, and President Trump fully supports this view.

This bill is also stuck in committee, and there have been no significant updates on it in nearly three months. Currently, this bill does not relate to banning U.S. citizens from owning foreign CBDCs, but primarily aims to impose a de facto ban on the Federal Reserve, preventing future Democratic administrations from creating such a form.

Compared to other bills, it does not seem like an urgent concern. However, Republican members still wish to achieve this goal during Trump's term.

Conclusion

All three laws will be hot topics in the National Assembly throughout Cryptocurrency Week. Industry observers should closely monitor potential developments.

Mr. Teacher