The US House of Representatives has designated the week of July 14 as "Crypto Week", a significant move aimed at advancing cryptocurrency regulation and innovation in the United States. During this week, lawmakers will consider three key bills:
- CLARITY Act: A comprehensive bill aimed at establishing a clear regulatory framework for digital assets, safeguarding consumers and investors, and providing rules for the issuance and operation of dollar-backed payment stablecoins.
- Anti-CBDC Surveillance State Act: A bill that seeks to restrict the Federal Reserve from developing, issuing, or using a Central Bank Digital Currency (CBDC) for monetary purposes, thereby protecting Americans' financial privacy.
- GENIUS Act: A stablecoin bill that has already passed in the Senate, targeting the regulation of cryptocurrency issuance and establishing guidelines for dollar-pegged cryptocurrencies.
These bills are expected to:
- Boost Institutional Investment: By reducing regulatory uncertainty, the bills could pave the way for increased participation from institutional and traditional investors.
- Foster Innovation: Clear regulations could encourage domestic innovation and give US-based crypto companies a clearer path forward.
- Impact Top Cryptocurrencies: Progress on these bills could trigger a surge in top cryptocurrencies like Bitcoin, Ethereum, and Solana.
The move is seen as a historic step towards making the United States a leader in the crypto landscape, with Chairmen French Hill and GT Thompson emphasizing the importance of clear regulations for digital assets.
