Crypto Bills Set to Reshape US Policy, Bitcoin Surges 10%

Crypto Week is approaching, and the crypto community is abuzz with anticipation as three significant bills are set to be discussed from July 14 to July 18. These bills— the CLARITY Act, the Anti-CBDC Act, and the GENIUS Act—could reshape U.S. policy on cryptocurrencies and potentially drive Bitcoin to new heights, according to some analysts' forecasts.

Bitcoin has been on a bullish run, reaching $109,112 this week, just shy of its all-time high. This surge is largely attributed to the optimism surrounding President Trump's pro-crypto agenda, which includes the upcoming signing of a major bill on July 4. The GENIUS Act, in particular, is expected to lead the way by bringing stablecoins into the traditional financial system. This legislation has drawn criticism for favoring fiat structures over decentralized finance (DeFi) ideals but is seen as a key component of Trump's vision to bolster the dollar's dominance through stablecoins.

The CLARITY Act aims to address the long-standing confusion over whether crypto assets should be treated as securities or commodities. This bill is expected to gain traction during Crypto Week, with its consumer protection and token classification framework likely to receive amplified support. However, it has faced some pushback due to concerns about its flexible language and regulatory ambiguity.

The Anti-CBDC Surveillance State Act, while not as urgent, holds political significance as a preventative measure against a government-issued central bank digital currency (CBDC). This bill aligns with Trump's anti-CBDC stance and would block the Federal Reserve from issuing a CBDC. However, its practical impact is limited as it does not affect citizens using foreign CBDCs.

With Republicans pushing forward on these bills, Crypto Week marks a historic moment for U.S. crypto legislation. The GENIUS Act seems poised to pass, while the other two bills may gain momentum from the increased attention. The week may also reveal the depth of the divide between pro-crypto innovation and concerns about regulation and control. If passed, these bills could potentially kickstart the next bull run for Bitcoin, with some analysts forecasting a surge to $120,000.