TLDR
- U.S. House “Crypto Week” features votes on three major bills: CLARITY Act (Wednesday), GENIUS Act (Thursday), and Anti-CBDC Act
- The CLARITY Act would establish regulatory frameworks for crypto markets, defining SEC and CFTC roles
- The GENIUS Act has already passed the Senate and would be the first major U.S. crypto law if approved
- Stablecoin issuers would need to maintain 1:1 reserves under the GENIUS Act
- If passed, the Anti-CBDC Act would prevent the Federal Reserve from issuing a central bank digital currency
The U.S. House of Representatives has designated this week as “Crypto Week,” with votes scheduled on three key pieces of cryptocurrency legislation that could reshape the regulatory landscape for digital assets in America.
House lawmakers are set to vote on the Digital Asset Market Clarity Act (CLARITY Act) on Wednesday afternoon. This bill aims to establish clear regulatory frameworks for U.S. crypto activity.
The CLARITY Act would define the roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in regulating digital assets. It would also provide certain exemptions from securities registration requirements for some blockchain-based offerings.
Next week, the House will deliver on @POTUS' call to make the United States the crypto capital of the world. pic.twitter.com/T7lRm2Ux05
— Financial Services GOP (@FinancialCmte) July 10, 2025
If passed as expected with strong bipartisan support, the CLARITY Act will move to the Senate. While the Senate previously showed little movement on similar legislation, key senators have pledged to address the issue promptly this time.
Industry lobbyists report that Senate lawmakers may not follow the House bill’s language exactly, suggesting negotiations lie ahead. Senator Tim Scott, who chairs the Senate Banking Committee, has stated that the CLARITY Act will serve as a template for the Senate’s work.
Stablecoin Regulation Takes Center Stage
The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act is scheduled for a Thursday morning vote in the House. This bill has already cleared the Senate with wide bipartisan approval.
If the House passes the GENIUS Act without changes, it would head directly to President Trump’s desk for signature, potentially becoming the first major cryptocurrency law in the United States.
The GENIUS Act establishes rules for stablecoin issuers like Circle (USDC) and Tether (USDT). It requires these companies to maintain reserves backing their stablecoins on a one-to-one basis with U.S. dollars or similarly liquid assets.
The legislation also extends Bank Secrecy Act provisions to stablecoin issuers. Some economic observers have raised concerns that the backing requirements could pose risks to the U.S. monetary system.
“This is the most consequential week yet for the digital asset industry on Capitol Hill,” according to Jessica Martinez, Senior Director of Government Relations at the Blockchain Association.
Third Bill Targets Central Bank Digital Currency
The third piece of legislation slated for a vote is the Anti-CBDC Surveillance State Act. This bill would ban the Federal Reserve from issuing a central bank digital currency (CBDC).
Republican lawmakers have argued that a government-issued digital dollar might compete with private stablecoins and could enable financial surveillance of American citizens. The House is expected to vote on this bill on Wednesday.
The bill would ensure that only Congress could authorize the issuance of a digital dollar. Its prospects in the Senate remain unclear, as there is currently no companion bill in that chamber.
The House Rules Committee met Monday afternoon to establish procedures for how each bill will be handled on the floor. After an hour of debate on each bill, the House will vote without considering amendments.
Not all lawmakers support these bills. Democratic leaders have campaigned against what they describe as “dangerous legislation.” Massachusetts Senator Elizabeth Warren has claimed the CLARITY Act could allow publicly traded companies to bypass U.S. securities laws.
Representative Brad Sherman has criticized the Anti-CBDC bill as a “word salad” that favors “crypto bros.”
Despite this opposition, the crypto industry views these votes as a major step forward. If the GENIUS Act follows the expected course, it will mark a historic milestone as the first major crypto regulatory bill to become law.
According to policy analyst Ian Katz of Capital Alpha, “Instead of taking up Clarity, we think the Senate will put forth its own bill, but not before September,” though he doubts the final effort will be completed this year.
Senator Scott has said the Senate will finish its work on crypto market structure by September 30, setting up a potential framework for digital asset regulation before the end of the year.
