- House Republicans plan to advance three important crypto bills – the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act
- These crypto bills together can bring in huge changes and reshape regulatory frameworks
- Over $100 million was spent by crypto industry lobbyists pushing for coordinated policy on stablecoins and market structure
July 14-18 is set to be a massive week for crypto, as House Republicans plan to advance three important crypto bills – the CLARITY Act, Anti-CBDC Surveillance State Act, and GENIUS Act.
The CLARITY Act establishes the CFTC (Commodity Futures Trading Commission) and not the SEC as the primary regulator for digital commodities. Under it, exchanges will be required to register, segregate customer assets, improve disclosures, and clarify jurisdictional boundaries.
Anti‑CBDC Surveillance State Act seeks to prohibit the issuance of a US retail Central Bank Digital Currency (CBDC) to protect financial privacy.
GENIUS Act is basically a stablecoin framework requiring 1:1 backing, monthly audits, and AML (Anti-Money Laundering) compliance.
All of this is rather big news for the crypto industry, with some significant changes incoming. For instance, if the CLARITY Act passes, exchanges and digital assets get unambiguous roles, with the CFTC for commodities and the SEC for securities. This could potentially unlock new institutional investments and products.
Then, the Anti-CBDC bill would formally block Fed-run digital dollars, appealing to privacy advocates and echoing political promises to guard against government surveillance. Finally, the GENIUS Act offers a clear path forward for stablecoin issuer regulation and consumer protection.
GENIUS Act is producing the most buzz
These crypto bills together have the ability to bring in huge changes and reshape regulatory frameworks, to the point where the US might become a global leader in crypto innovation.
All three seem to have support, but the GENIUS Act looks to be the most anticipated one. For instance, over $100 million was spent by crypto industry lobbyists pushing for coordinated policy on stablecoins and market structure.
Even Coinbase’s stock jumped following the GENIUS passage in the Senate, which is likely tied to Coinbase’s plans for 24/7 USDC payments and retail partnerships.
Stakeholders are racing against Congressional recess deadlines and campaign cycles, and the US President Donald Trump has urged passage of the stablecoin bill before August.
It’s probable that a strong US stablecoin regulation may influence global markets, which could translate to innovation but would also raise concerns about the dollar’s global standing and the country’s control over its currencies.
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