U.S. House Designates Crypto Week to Clarify Digital Asset Regulations

The U.S. House of Representatives has designated the week starting July 14 as “Crypto Week,” marking a significant push to establish the United States as a global leader in digital assets. During this week, lawmakers will consider three landmark bills: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act. These bills aim to provide regulatory clarity, support stablecoins, and preserve financial privacy, reflecting the growing recognition of the crypto market's economic significance.

Prominent crypto trader and influencer Cas Abbe commented on the significance of this week, stating, “The next few weeks are going to be really bullish for the crypto market.” This sentiment underscores the anticipation and potential impact of the legislative actions being considered.

One of the key bills under review is the CLARITY Act, a bipartisan effort to end years of regulatory ambiguity by clearly delineating the roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in overseeing digital assets. The Act divides digital assets into three categories: securities, commodities, and stablecoins. The CFTC will have exclusive jurisdiction over “digital commodities” such as Bitcoin, while the SEC will retain authority over securities. This clear division of oversight aims to provide much-needed certainty, encouraging responsible innovation and reducing the risk of regulatory enforcement actions that have stifled growth in the past.

The GENIUS Act, recently passed in the Senate with bipartisan support, establishes the first comprehensive federal framework for payment stablecoins. It defines who can issue stablecoins, sets capital and reserve requirements, and allows both federal and state regulators to supervise issuers. This framework gives legitimacy to dollar-backed digital assets, supporting their integration into mainstream finance. By setting clear rules and consumer protections, the U.S. can attract both institutional and retail users, strengthening the dollar’s role in global digital commerce.

The Anti-CBDC Surveillance State Act is another critical piece of legislation being considered. This Act would prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly or indirectly to individuals, addressing widespread concerns about government surveillance and financial privacy. By blocking a U.S. CBDC, the Act aims to preserve Americans’ financial autonomy and prevent the potential overreach seen in other countries. This legislation addresses a top concern among crypto advocates: the risk of government surveillance via a state-issued digital currency. By banning a retail CBDC, the U.S. would demonstrate its commitment to privacy, individual sovereignty, and free-market principles.

The legislative package under review during Crypto Week is the culmination of years of hearings, bipartisan negotiations, and industry advocacy. It reflects the maturation of the crypto market and the growing recognition of its economic significance. The comprehensive push to establish the United States as a global leader in digital assets is a testament to the evolving landscape of finance and the increasing importance of digital currencies in the global economy.