To address important cryptocurrency legislation, the US House of Representatives has set “Crypto Week” from July 14, 2025. Led by House Speaker Mike Johnson, Financial Services Committee Chairman French Hill, and Agriculture Committee Chair GT Thompson, this project fits with President Donald Trump’s plan to promote digital assets and cryptocurrencies. Three important bills will be discussed and voted on during this time.
Focusing on stablecoin control, the GENIUS Act is among the main laws. This bill requires annual audits for issuers with a market capitalization exceeding $50 billion and orders that stablecoins be fully backed by US dollars or equally liquid assets. Moreover, it sets criteria for foreign stablecoin issuers. Seeking to fulfill President Trump’s goal of passing stablecoin legislation by August, the House is giving top attention to the GENIUS Act to speed its approval. Another important piece of legislation, the Digital Asset Market Clarity Act (CLARITY Act), aims at clarifying the SEC and CFTC’s regulatory roles in monitoring digital assets. Digital asset companies would additionally be required by this measure to segregate customer funds and reveal financial data to consumers, a response to past failures like FTX intended to safeguard consumers and promote innovation.
Lastly, the Anti-CBDC Surveillance State Act, sponsored by House Majority Whip Tom Emmer, would prevent the Federal Reserve from issuing a retail-facing central bank digital currency (CBDC). Advocates of this measure assert that enabling government monitoring of personal transactions would degrade financial privacy and civil rights by means of a retail CBDC. Emphasizing a balance between innovation, consumer protection, and privacy, this legislative drive is part of a bigger Republican plan to position the US as a global leader in digital finance and answers to President Trump’s call for quick action in the crypto industry.