The U.S. Congress is preparing for a fierce showdown over important cryptocurrency bills this July.
Democratic members are committed to blocking the passage of the GENIUS and CLARITY Acts, arguing that they could facilitate cryptocurrency fraud, while Republicans are working to expedite the process to enact related laws.
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Democrats strongly oppose the cryptocurrency bills, labeling them as dangerous and facilitating fraud.
The GENIUS and CLARITY Acts are currently being reviewed by the U.S. Congress, while Republicans aim to pass them quickly.
The bill to ban CBDC is also being considered to protect freedoms from state surveillance.
How is the struggle over cryptocurrency law unfolding?
Maxine Waters and Democratic leaders emphasize the need to block the GENIUS and CLARITY Acts due to the risk of cryptocurrency fraud related to projects once associated with Donald Trump. Meanwhile, Republicans are confident they will successfully pass these bills.
The GENIUS Act has been passed by the Senate and is currently under review by the House before being sent to the President. If there are amendments, the bill must return to the Senate, slowing the process. The CLARITY Act is also under review in the House before moving to the Senate.
"Next week will be cryptocurrency week in the House! GENIUS is about to be presented to the President, and CLARITY is moving to the Senate."
Bo Hines, Senior Advisor on Digital Assets at the White House, July 2025
Why do Democrats oppose these bills?
Democrats describe the bills as "dangerous pieces" that could lead to large-scale fraud, while accusing the legalization of cryptocurrency projects related to Trump of generating illicit profits of up to $1.2 billion.
They also call the last week of July "Cryptocurrency Anti-Corruption Week" to raise public awareness about negative impacts. At the same time, bills to ban central bank digital currency (CBDC) are also being introduced to protect privacy and avoid government oversight.
"We will use this week to remind the public of the true cost of cryptocurrency corruption. Finance cannot become a tool for corruption, lawlessness, and abuse of power."
Stephen Lynch, Democratic Congressman, July 2025
Can the Republicans succeed in passing the bills?
In previous instances, Democrats have also proposed several measures to block cryptocurrency fraud related to Trump but have been unsuccessful. Recently, Republicans passed the "Big Beautiful Bill" and the GENIUS Act despite strong opposition pressure.
Ultimately, the cryptocurrency bills are expected to complete the legal process around August or September 2025. However, the timeline will depend on the level of resistance from the Democrats in the House and Senate.
What does the ban on CBDC mean in the current context?
The proposed bill to ban CBDC aims to maintain financial freedom and protect users from excessive government surveillance. Republicans support this idea in an effort to increase trust in decentralized cryptocurrencies.
In contrast, Democratic lawmakers accuse this as a dangerous move that reduces the ability to control and regulate the financial market, potentially putting users at greater risk.
How is the issue of cryptocurrency fraud related to Trump unfolding?
Cryptocurrency projects like stablecoins and memecoins associated with Trump have seen rapid growth recently, but have come with many fraud allegations leading to significant capital losses for investors. The memecoin Official Trump [TRUMP] is a prime example, causing many to lose their investments.
This situation has led Democratic leaders to call for stricter oversight and the establishment of a rigorous legal framework for cryptocurrency in the United States.
How do the GENIUS Act and CLARITY Act affect the cryptocurrency market?
The GENIUS Act aims to enhance stablecoin oversight standards, while the CLARITY Act focuses on building a transparent market structure and protecting investors from fraud risks. The passage of these two bills is expected to create a stable legal environment and promote sustainable cryptocurrency development in the United States.
This is particularly important as the cryptocurrency market faces significant volatility and legal risks, according to analyses by many financial and blockchain experts.
How can the bills be amended or delayed?
Any amendments in the House to the GENIUS Act will force the bill to return to the Senate, disrupting the progress of passage. The CLARITY Act is also under careful review in the House before moving to the Senate. Therefore, consensus among factions and the influence of cryptocurrency lobbying groups will significantly impact the legislative process.
How are solutions to prevent cryptocurrency fraud proposed in the new law?
The bills include transparency regulations on stablecoin issuance, managing exchanges and cryptocurrency wallets, while tightening accountability for projects related to abuse or fraud, based on practical experience and recommendations from reputable financial institutions.
Financial expert Trisha Hill commented: "A clear legal framework will help eliminate disruptive factors, enhance market reliability, and attract more investors to the cryptocurrency space."
Expert insights and forecasts on the future of cryptocurrency law in the United States
John Black, CEO of a leading blockchain company, commented: "The vigorous debate in Congress about cryptocurrency law is a positive sign, reflecting the maturity of the market. However, it is essential to ensure that the law balances user protection and fosters innovation."
Frequently Asked Questions
What is the GENIUS Act? The GENIUS Act aims to enhance stablecoin regulation, protecting investors from fraud risks, according to the U.S. Financial Committee. Why do Democrats oppose cryptocurrency bills? Democrats worry that these laws could legitimize fraud related to Trump's cryptocurrency project and reduce transparency. What is the role of the CLARITY Act? The CLARITY Act establishes a market structure to protect users and help stabilize the cryptocurrency environment in the United States. What is CBDC and why should it be banned? CBDC is a cryptocurrency issued by the central bank; the proposed law aims to ban it to maintain privacy and avoid government surveillance. When might cryptocurrency bills become law? The bills are expected to pass in August or September 2025, depending on the level of political consensus in Congress.
Source: https://tintucbitcoin.com/trump-va-ke-hoach-crypto-12-ty-usd/
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