US House Declares Crypto Week: GENIUS Act, CLARITY Act Set for Historic Floor Votes

The United States House of Representatives has officially designated the week of July 14 as “Crypto Week,” setting the stage for what could become the most consequential series of legislative votes in the history of digital asset regulation. Three major bills — the GENIUS Act, the CLARITY Act, and the CBDC Anti-Surveillance State Act — are scheduled for full floor consideration, marking an unprecedented moment where Congress moves from debating whether to regulate crypto to deciding exactly how to do it.

TL;DR

• The US House designated July 14–18, 2025, as “Crypto Week” with three major digital asset bills scheduled for floor votes
• The GENIUS Act would establish the first federal framework for payment stablecoins, having already passed the Senate
• The CLARITY Act aims to draw clear jurisdictional lines between the SEC and CFTC for crypto oversight
• Senator Cynthia Lummis introduced standalone crypto tax legislation including a de minimis exemption for small transactions
• Bitcoin traded near $62,000 as markets responded positively to the regulatory clarity momentum

A Legislative Watershed Moment

The announcement, made jointly by House Financial Services Committee Chairman French Hill (R-AR) and House Agriculture Committee Chairman GT Thompson (R-PA), signals that congressional leadership has made digital asset legislation a top-tier priority. The coordinated approach between two committees that historically have sparred over jurisdictional turf is itself noteworthy — it reflects a growing bipartisan consensus that the current patchwork of regulatory uncertainty cannot continue.

“Crypto Week” is not a symbolic gesture. The House Rules Committee has been actively processing amendments, and leadership has committed floor time during a period when the legislative calendar is typically dominated by appropriations work. This level of scheduling priority suggests that the bills have enough support to pass, and that leadership is willing to expend political capital to make it happen.

The GENIUS Act: Stablecoins Get Federal Rules

Of the three bills, the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins Act) carries the most immediate market significance. Having already cleared the Senate, the bill would create the first comprehensive federal framework for payment stablecoins — those digital assets designed to maintain a stable value relative to the US dollar.

The legislation establishes clear requirements around who can issue payment stablecoins, what reserve assets must back them, and what redemption rights holders have. For an industry where trust has historically depended on voluntary attestations and reputational credibility, the shift to enforceable federal standards represents a fundamental change in how these products operate.

Banks and regulated financial institutions stand to benefit the most. Under the proposed framework, FDIC-supervised institutions would have a defined pathway to issue stablecoins through subsidiaries, removing the regulatory ambiguity that has kept many traditional financial players on the sidelines. Industry analysts estimate that a clear federal framework could unlock billions in institutional capital that has been waiting for regulatory certainty before entering the stablecoin market.

The CLARITY Act: Drawing the Lines

The CLARITY Act tackles what has been perhaps the most persistent source of confusion in crypto regulation: the question of which federal agency has authority over which digital assets. Under current law, the same token can potentially fall under SEC jurisdiction as a security, CFTC jurisdiction as a commodity, or both simultaneously, depending on how it is marketed, traded, and used.

The bill passed the House Financial Services Committee by a bipartisan vote of 32-19 and cleared the Agriculture Committee by an even wider margin of 47-6. It would establish clearer boundaries between SEC and CFTC oversight, creating defined categories for digital assets and specifying which regulatory framework applies to each. While the legislation does not resolve every classification question — that would require ongoing rulemaking — it provides the statutory foundation that both agencies have said they need to do their jobs effectively.

CBDC Ban and Tax Reform

The third bill, the CBDC Anti-Surveillance State Act, takes a more restrictive approach. It would prohibit the Federal Reserve from issuing a central bank digital currency directly to individuals, effectively preempting any retail CBDC program in the United States. The bill reflects deep congressional skepticism about government-issued digital currencies and concerns about financial surveillance.

Simultaneously, Senator Cynthia Lummis (R-WY) introduced standalone crypto tax legislation that addresses several practical pain points for digital asset users. The bill includes a de minimis exemption for transactions under $300, modernizes the tax treatment of mining and staking income, and extends wash sale rules to cover digital assets. While these provisions had been proposed as amendments to broader budget legislation without success, the standalone bill keeps tax reform alive as a parallel track to the main regulatory push.

SEC Activity Signals Regulatory Shift

The legislative momentum is mirrored by significant activity at the Securities and Exchange Commission. The SEC’s Division of Corporation Finance issued detailed guidance for crypto exchange-traded products this week, outlining specific disclosure expectations for risk factors, business descriptions, and redemption mechanics. Commissioner Hester Peirce indicated that in-kind redemptions for crypto ETPs — allowing investors to redeem shares for digital assets rather than cash — may be under active review, a potential policy reversal that the industry has sought for years.

SEC Chair Paul Atkins, in public remarks, described tokenization as a genuine market innovation and emphasized the agency’s focus on fostering a transparent regulatory environment. The tone marks a notable departure from the enforcement-heavy approach that characterized the agency’s crypto policy in previous years.

European Regulators Also Move

The regulatory action is not limited to the United States. On July 11, the European Securities and Markets Authority (ESMA) issued a warning that authorized crypto-asset service providers under the MiCA framework must not mislead customers about their regulatory status or the protections available to them. The statement reflects growing pains as the EU’s comprehensive Markets in Crypto-Assets Regulation, which took full effect in early 2025, moves from the legislative phase into active enforcement.

The transatlantic parallel is striking: both the US and EU are moving from the question of whether to regulate crypto to the practical challenges of implementation. The difference is that the EU has its framework in place, while the US is still writing the rules — but Congress appears determined to close that gap quickly.

Why This Matters

Crypto Week represents a turning point for the digital asset industry in the United States. For years, the sector has operated under a cloud of regulatory ambiguity, with companies building products while simultaneously fighting legal battles over basic jurisdictional questions. If even two of the three scheduled bills pass the House and advance toward law, the practical impact on market structure, institutional participation, and product development will be substantial.

The stablecoin framework alone could reshape how digital dollars function in both crypto markets and traditional payments. The market structure bill could finally give exchanges, custodians, and token issuers a clear compliance path. And the speed at which Congress is moving — from committee votes to floor consideration in a matter of weeks — suggests that the political momentum behind crypto regulation is genuine, not performative.

Disclaimer: This article is for informational purposes only and does not constitute financial, legal, or investment advice. The regulatory landscape for digital assets is evolving rapidly, and readers should consult qualified professionals before making any decisions based on the information presented herein.