Crypto Week is Approaching: Will These Three Pro-Crypto Bills Be Approved?

Crypto Week is approaching as lawmakers in Washington seek to pass three bills related to crypto assets.

Crypto Week is approaching: Will these three pro-crypto bills be approved?

Analysis

Lawmakers in Washington are preparing to pass three bills for the blockchain industry in an event they have dubbed 'Crypto Week'.

The United States Congress has been working on legislation that, according to the cryptocurrency industry lobby, will help provide clarity to the industry and facilitate its growth, mainly through two laws governing stablecoins and creating a framework for the cryptocurrency market. Congress is also considering a law that would prevent the creation of a central bank digital currency (CBDC).

Cryptocurrencies have found support on both sides of the political aisle, with Democratic and Republican lawmakers each making several amendments to the bills under consideration. Major cryptocurrency exchanges operating in the United States, such as Coinbase, have also ramped up their campaign in favor of the legislation.

As Congress takes action on three critical bills during Crypto Week, here's a look at what they are considering and what it means for the cryptocurrency industry.