Congress Sets Crypto Week for July 14 to Tackle Key Blockchain Legislation

The CLARITY Act aims to clearly define crypto tokens as securities or commodities and assign regulator roles.

The GENIUS Act mandates stablecoin issuers hold 1:1 reserves and comply with AML and CTF requirements.

The Anti-CBDC Act seeks to permanently ban a U.S. central bank digital currency due to privacy concerns.

From July 14 to 18, the U.S. House of Representatives will host a focused legislative session dubbed “Crypto Week.” During this period, CCN reports that lawmakers are expected to address several bills that could define the future of digital assets, stablecoins, and central bank digital currency (CBDC) policies. The planned activity reflects an ongoing effort to introduce regulatory clarity and improve market structure across the U.S. crypto landscape.

Lawmakers to Debate Crypto Asset Classification

Watcher Gurus' post on X states that among the frontline items is the Digital Asset Market Clarity Act otherwise known as the CLARITY Act. This is a bipartisan bill that attempts to structure a policy that can make a distinction between crypto tokens being treated as securities or commodities. It is also aimed at assigning the regulatory duties between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

The act would provide the formal authority to CFTC to regulate certain segments of the digital asset market. In the meantime, it suggests protections of developers constructing within the Web3 area. The intention of the lawmakers who came up with the bill was to eliminate gaps in enforcement and regulatory uncertainty that in the past was one of the factors used to reduce innovation.

Stablecoin Oversight to Be Strengthened Under GENIUS Act

Another major component of the week’s agenda is the Guiding and Establishing National Innovation for U.S. Stablecoins Act. Known as the GENIUS Act, this legislation passed the Senate on June 18 with broad bipartisan support. The bill mandates that stablecoin issuers register with a designated federal regulator and maintain reserves matching issued tokens

Acceptable reserve assets include cash, cash equivalents, and highly liquid instruments like U.S. Treasuries. It also imposes anti-money laundering and counter-terrorism financing compliance, along with redemption rights for token holders. Lawmakers created the bill in response to previous failures in the stablecoin sector, aiming to reduce risks for institutions and retail users.

Bill to Block U.S. CBDC Also on the Agenda

Additionally, the Anti-CBDC Surveillance State Act will also be discussed. This bill proposes a full prohibition on the issuance of a U.S. central bank digital currency. Legislators introduced the measure over concerns about potential government surveillance through a centralized digital dollar.

The act addresses privacy risks and sets a legal barrier against any future CBDC initiative. It also implicitly boosts demand for private U.S. dollar-backed stablecoins by removing public sector alternatives. The designation of Crypto Week reflects rising legislative attention to digital finance. The bills under review could result in new regulatory standards, expanded oversight powers, and legal clarity. Each proposal carries implications for crypto firms, regulators, and token holders alike.