House Republicans Push Crypto Bills Forward During Crypto Week

Republican lawmakers are accelerating efforts to advance key cryptocurrency bills this summer, with a focus on the GENIUS Act and the CLARITY Act. The House Committee Chair French Hill and House Agriculture Chair Glenn Thompson announced that the House will consider these bills from July 14 to July 18, designating this period as "crypto week." The agenda includes the crypto market structure bill, the CLARITY Act, the Senate’s stablecoin bill (the GENIUS Act), and the anti-CBDC (Central Bank Digital Currency) bill.

House Speaker Mike Johnson emphasized that this plan aligns with President Donald Trump’s crypto agenda, stating, “House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda.” The GENIUS Act, which aims to provide regulatory clarity on the stablecoin market, passed the Senate on June 17 and was received in the House on June 23. After House consideration and approval, the bill will be sent to the President’s desk, likely in the third quarter of the year. However, there is a possibility that the House could make amendments, which would require the bill to be sent back to the Senate for confirmation, potentially delaying the timeline for final submission to the end of the year or 2026.

The CLARITY Act, a bipartisan plan, seeks to offer regulatory clarity in the broader crypto landscape, particularly following enforcement actions by the Biden-era SEC. It aims to define whether digital assets are securities, provide unified agency oversight, and encourage innovation while enhancing consumer protection. Introduced in the House in late May, the CLARITY Act was passed out of the Financial Services and Agriculture committees in mid-June. The next step will be a House floor vote, scheduled for "crypto week." Crypto and AI czar David Sacks described this progress as "amazing," expecting the GENIUS Act to head to the President’s desk after "crypto week." However, it remains uncertain whether the GENIUS Act will pass without House amendments as Sacks anticipates.