House Approves Four Crypto Bills Amidst Political Tensions

On July 14, the House Rules Committee approved a rule that moves four crypto bills forward to full House debate, marking the start of what Republicans are calling Crypto Week. The approved bills include the Digital Asset Market Structure Clarity Act (CLARITY Act), the Guiding Uniform and Responsible Digital Asset Innovation Act (GENIUS Act), the Anti-CBDC Surveillance State Act, and the Department of Defense Appropriations Act, 2026. These bills aim to define how the SEC and CFTC should oversee digital assets, introduce a framework for stablecoin regulation, and stop the Federal Reserve from launching a central bank digital currency (CBDC).

House votes are expected between July 15 and July 18, making this week one of the most active periods for crypto legislation in 2025. However, Representative Maxine Waters, the lead Democrat on the House Financial Services Committee, has strongly criticized the crypto bills. In an op-ed, Waters warned that the CLARITY Act would block the SEC from acting against market fraud, making enforcement more difficult and leaving the public vulnerable to future failures like the FTX collapse. She also pointed out that the GENIUS Act lacks clear oversight mechanisms and does not provide budget support for supervision, which could allow foreign-controlled stablecoin issuers to operate under weaker rules, posing national security concerns.

Waters also connected the crypto legislation to Donald Trump, referencing an estimate that crypto-related deals have added about $620 million to Trump’s net worth. She stated that the bills align with financial interests linked to the president, calling it a potential conflict of interest. Waters suggested the legislation is designed to “legalize crypto corruption at the highest level.” In response, she and Rep. Stephen Lynch announced “Anti-Crypto Corruption Week” to challenge the Republican-led Crypto Week. They are urging Democrats to vote against the CLARITY Act, GENIUS Act, and the Anti-CBDC Surveillance State Act.

Each bill is set for debate and a possible vote between July 15 and July 18, as the House prepares to take a key step in shaping future crypto rules. Waters' opposition to the bills highlights the ongoing debate over the regulation of digital assets and the potential conflicts of interest that may arise from crypto legislation. The outcome of these votes will have significant implications for the future of crypto regulation in the U.S.