According to Deep Tide TechFlow news, on July 4th, the U.S. House leadership announced that the week of July 14th would be designated as "Crypto Week," during which three important cryptocurrency bills will be reviewed: the GENIUS Stablecoin Act, the Digital Asset Market Clarity Act, and a bill regarding Central Bank Digital Currency (CBDC).
The GENIUS Act requires stablecoins to be fully backed by U.S. dollars or highly liquid assets, and imposes annual audits on large issuers. The Digital Asset Market Clarity Act aims to clarify the regulatory responsibilities of the SEC and CFTC, while requiring digital asset companies to provide retail financial disclosures and segregate company and client funds.
House Speaker Mike Johnson stated that these initiatives are "decisive steps in achieving President Trump's agenda on digital assets and cryptocurrencies." Trump had previously requested that the stablecoin legislation be delivered to his desk by August, and this arrangement for "Crypto Week" is expected to help lawmakers meet that deadline.