U.S. House of Representatives: “The ongoing “Crypto Week” is expected to drive progress on three major crypto bills. This week is already off to a great start. Yesterday, federal banking agencies issued a joint statement guiding banking organizations that securely provide cryptographic protection services services.
In the coming days, US lawmakers will consider Genius Law, Clear Law, and Anti-CBDC Surveillance National Law. All three bills represent a major advancement for the industry.
US Crypto Week: 3 Invoices that Can Transform the Industry
The most notable bill considered is the guidelines and establishment of national innovation for the US Stablecoins Act (Genius Act). The Act seeks to establish a regulatory framework for stablecoins.
The bill passed the Senate vote in June with bipartisan support. According to Politico, the House is scheduled to vote for it on Thursday.
The bill then lands on the desk of US President Donald Trump.
“The House of Representatives’ actions mark a historic milestone in their efforts to provide a clear, pro-found framework for digital assets. I applaud my House colleagues for moving forward with the stubcoin law.
Retail optimism about the bill is also high. Data from Polymarket, a prediction platform, shows a 94% chance of passing. The bill is set to boost the Stablecoin market and justify asset classes, but could have a major impact on Ethereum (ETH).
As Ethereum is the leading platform for Stablecoins, any regulatory changes or improvements related to Stablecoins could directly benefit from increased use or adoption.
“The Genius Act brings trillions of stubcoins to Ethereum. All the largest banks in the world use Ethereum.
The second invoice is the clarity method for the digital asset market. It aims to clarify the jurisdictional disparities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over digital asset regulation.
In June, the bill received strong bipartisan support from both the House Financial Services Committee and the Agriculture Committee. Lawmakers will now vote for the Clarity Act on Wednesday.
“I am grateful to my congressional colleagues and the Trump administration’s partnership and leadership, and am ready to work with the Senate who works to advance the laws of a standalone market structure by the end of September,” French Hill pointed out.
Finally, on Wednesday, the House will also vote for the Anti-CBDC Surveillance National Act. The law aims to prohibit the Federal Reserve from issuing Central Bank Digital Currency (CBDC).
The anti-CBDC Act attempts to address concerns about potential government surveillance and maintain individual privacy. If the House vote is passed, the bill will be moved to the Senate.
“Along with the ban on CBDC, passing the Stablecoin and market structure laws will ensure you win the US race. This package encourages the innovation and development of Web3 businesses here in the US, protects consumers from fraud and ensures that America rules the future of blockchain.
The proposed bill reflects a growing consensus on the need for a clear framework to support the crypto industry while ensuring consumer protection and innovation. The outcomes of these bills could significantly shape the future of digital asset regulation and the role of the United States in the global crypto ecosystem.
Disclaimer
In compliance with Trust Project guidelines, Beincrypto is committed to reporting without bias and transparent. This news article is intended to provide accurate and timely information. However, we recommend that readers independently verify the facts and consult with experts before making decisions based on this content. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
