House GOP Dedicates Mid-July to Crypto Legislation Blitz—Key Bills Under Microscope
Washington’s playing catch-up with the future—again. House Republicans just slapped ‘crypto week’ on the Mid-July calendar, turning the heat up on long-delayed digital asset legislation. No more vague promises—this is a full-throttle review of bills that could reshape how America interacts with blockchain.
The Bills on the Chopping Block
Expect debates sharper than a trader’s exit strategy. The GOP’s agenda targets everything from stablecoin oversight to crypto tax reporting—each with the potential to either ignite adoption or send the industry scrambling. Watch for lobbyists to swarm like yield farmers on a new DeFi pool.
Why Mid-July?
Timing is everything—especially when you’re racing against an election cycle. With regulators flip-flopping between ‘innovation’ and ‘enforcement,’ this push might be Congress’ last shot to look proactive before campaign mode kicks in. (Cynical take: Nothing motivates politicians like a ticking clock—except maybe donor checks.)
The Bottom Line
Markets hate uncertainty, but they’ll love clarity—if it ever arrives. Whether these bills become law or just another Capitol Hill spectacle, one thing’s certain: Crypto’s not waiting for permission to keep evolving. Buckle up.
House targets August deadline for stablecoin bill
The stablecoin bill will be the top priority for crypto Week. Although the House had previously pushed its version, known as the STABLE Act, lawmakers are turning their attention to the Senate’s version, titled the GENIUS Act, which has already been approved.
The House had shifted its focus, likely to speed up the process, noting that TRUMP had publicly stated he wanted a stablecoin bill on his desk by August.
The GENIUS Act also includes tight rules, such as mandating that US dollars or comparable liquid assets must fully back stablecoins.
It requires stablecoin issuers with market values exceeding $50 billion to perform annual audits and sets specific standards for firms or companies domiciled overseas. The House’s previous version had key differences, such as tolerating state-level regulatory structures or treating foreign issuers differently.
Still, Republican leaders seem willing to take the Senate version to meet the tight timetable. The STABLE Act advanced through the House Financial Services Committee in May but has not been brought to a full vote. Choosing the GENIUS Act may expedite negotiations and bypass a protracted legislative ping-pong.
President Trump’s rising interest in crypto regulation has emphasized the urgency. He and his administration want to stabilize the US stablecoin market as part of a campaign to claw back financial innovation from competitors abroad.
Lawmakers clarify crypto oversight in market structure bill
A second key piece of legislation on the Crypto Week docket is the Digital Asset Market Clarity Act, also known as the Clarity Act. This legislation hopes to create regulatory clarity between the agencies by defining the roles of the SEC and the Commodity Futures Trading Commission.
The rules WOULD force firms that issue and manage digital currencies to disclose critical financial information to consumers and keep customer funds separate from corporate assets. Such measures are crucial in light of major blow-ups, such as the FTX scandal, which revealed oversight gaps.
Republicans say an unclear legal framework stifles US innovation and drives entrepreneurs overseas. French Hill, who helped to shepherd the bill, called it a sensible roadmap that strikes the right balance between innovation and investor protection.
But not everybody agrees. District Democrats have expressed skepticism, particularly considering Trump’s close relationship with the digital asset world. Trump and his family have raked in around $620 million from crypto initiatives such as launching memecoins carrying the TRUMP and MELANIA names, and a decentralized finance effort known as World Liberty Financial, according to a recent report by Bloomberg.
The final piece of legislation expected during Crypto Week comes from House Majority Whip Tom Emmer. His bill seeks to ban the Federal Reserve from launching a retail-facing CBDC, arguing that such a currency would seriously threaten financial privacy and civil liberties.
Emmer has positioned the bill as a defense against government overreach. He warned that allowing the Fed to issue a digital dollar directly to consumers would open the door to surveillance and control over personal spending habits.
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