"Crypto Week" in the US House: three key cryptocurrency bills are planned

"Crypto Week" in the US House: three key cryptocurrency bills are planned

The US political scene is gearing up for an intense week in cryptocurrencies. Republicans have announced a "crypto week" during which they intend to pass three key bills that are expected to fundamentally affect the regulation of digital assets in the US. The move is part of a broader effort to strengthen America's position in crypto and deliver on promises made by former President Donald Trump.

What exactly is "crypto week"?

According to House of Representatives officials, three key bills will be debated from July 14 to 18:

1. the CLARITY Act - a proposal to provide clearer rules for cryptocurrencies and their regulation, including requiring most crypto exchanges to register with the Commodity Futures Trading Commission (CFTC) and establishing rules for disclosure and protection of customer assets.

2. Genius Act - a bill aimed at regulating stablecoins. This proposal is preferred over the earlier STABLE Act and is likely to be submitted to President Trump for his signature if the House passes it as supported by the Senate.

3. Anti-CBDC Surveillance State Act - a proposal to prohibit the Federal Reserve from testing or issuing central bank digital currencies (CBDC). This bill reflects concerns about potential surveillance and control of citizens.

Why is this important?

According to Finance Committee Chairman French Hillary and other Republican leaders, the moves are part of a plan to implement Trump's campaign promises to promote cryptocurrencies and digital assets. The bills are also intended to strengthen US competitiveness in this area and create a clearer legal framework.

Democrats, on the other hand, are critical, particularly of proposals such as GENIUS and CLARITY, and point to the growing influence of cryptocurrencies, which could lead to further risks.

Another important proposal that may reach President Trump's desk is a law banning the development and use of CBDC, reflecting concerns about potential surveillance of citizens and abuse of central bank power.

Outlook for the future

If the legislation manages to pass, it could mean a significant strengthening of cryptocurrency regulation in the US. At the same time, it will depend on possible changes to the bills, which may still be modified or merged into compromise versions.

All of this shows that US policy is constantly evolving and trying to strike a balance between encouraging innovation and protecting consumers. For the cryptocurrency industry, this "crypto week" is a key milestone that may influence its direction for years to come.

Follow the evolution of this important event that could change the game in the US and global crypto space!

*This is not an investment recommendation.

Coingarage team