U.S. Legislators Prepare for Historic Crypto Week: Pioneering Blockchain Legislation on the Horizon
The U.S. House of Representatives has designated the week of July 14 as "Crypto Week" to advance three significant digital asset bills: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. These bills aim to provide regulatory clarity, support innovation, and address privacy concerns in the rapidly evolving digital asset landscape.
The CLARITY Act, led by Chair French Hill (AR-02), Chair GT Thompson (PA-15), and Speaker Mike Johnson (LA-04), establishes a foundational regulatory framework for digital asset markets. It aims to clarify oversight and reduce regulatory uncertainty by distinguishing between digital assets classified as securities and those classified as digital commodities. The Act grants the Commodity Futures Trading Commission (CFTC) exclusive regulatory authority over digital commodity exchanges, brokers, and dealers.
The CLARITY Act also defines a digital asset as a digital representation of value recorded on a cryptographically-secured distributed ledger or similar technology. It introduces licensing requirements to operate within the U.S. market and prevents federal regulators from requiring financial institutions to treat customer digital assets as liabilities on their balance sheets.
The GENIUS Act, on the other hand, focuses on stablecoins, aiming to foster innovation while ensuring consumer protection and financial stability. It provides rules for the issuance, redemption, and operation of stablecoins, with an emphasis on transparency, reserves, and risk management. The Act encourages collaboration between federal regulators to oversee stablecoin markets effectively and positions the U.S. as a leader in stablecoin development and digital asset infrastructure.
The Anti-CBDC Surveillance State Act seeks to prohibit the introduction and use of a federally issued central bank digital currency (CBDC) in the United States. It aims to protect financial privacy by preventing government surveillance through a digital dollar or similar CBDC initiatives. The bill reflects concerns about government overreach and the potential erosion of financial privacy with the introduction of a programmable CBDC.
These bills are the result of over a year of legislative groundwork, including the passing of the Financial Innovation and Technology for the 21st Century Act (FIT21) in April 2024. The Trump administration's support has accelerated efforts, with House Speaker Johnson stating that House Republicans are taking decisive steps to deliver the full scope of President Trump's digital assets and cryptocurrency agenda.
The push for these bills is rooted in concerns over financial surveillance, regulatory ambiguity, and competitive pressure from crypto-forward jurisdictions like the United Arab Emirates, Singapore, and the European Union. The initiative highlights the U.S.'s opportunity to take the lead in the global crypto economy.
Lawmakers held more than a dozen hearings, published multiple op-eds, and released several drafts between February and June 2025 to gather public and industry feedback. The CLARITY Act received strong bipartisan support in both the Financial Services and Agriculture committees, with 32-19 and 47-6 votes respectively, paving the way for a full House vote.
Chairmen Hill, Thompson, and Whip Emmer reaffirmed their legislative commitment via a joint op-ed in CoinDesk on June 11, 2025. The outcome of these bills during Crypto Week will shape the future of digital asset regulation in the United States.
- The CLARITY Act plans to establish a regulatory framework for digital asset markets, aiming to distinguish between digital assets classified as securities and digital commodities.
- The CLARITY Act grants the Commodity Futures Trading Commission (CFTC) exclusive regulatory authority over digital commodity exchanges, brokers, and dealers.
- The digital asset landscape, according to the CLARITY Act, involves a digital representation of value recorded on a cryptographically-secured distributed ledger or similar technology.
- The GENIUS Act focuses on stablecoins, aiming to foster innovation while ensuring consumer protection and financial stability.
- The Anti-CBDC Surveillance State Act seeks to prohibit the introduction and use of a federally issued central bank digital currency (CBDC) in the United States to protect financial privacy.
- Lawmakers have worked on these bills for over a year, including the passing of the Financial Innovation and Technology for the 21st Century Act (FIT21) in April 2024, and have gathered public and industry feedback through hearings, op-eds, and drafts.
- The outcomes of these bills during "Crypto Week" will significantly shape the future of digital asset regulation in the United States. Additionally, the U.S. stands to lead in the global crypto economy, given the competitive pressure from jurisdictions like the United Arab Emirates, Singapore, and the European Union. This editorial was written on or around July 11, 2025, with an emphasis on news about technology, finance, politics, and general-news related to cryptocurrency and digital assets.
