Following the passage of President Donald Trump's sweeping tax and spending bill, House Republicans are now setting the stage for a major push on cryptocurrency legislation.
Speaker Mike Johnson has designated the week of July 14 as “Crypto Week,” during which lawmakers will debate three key bills covering stablecoins, digital asset market structure, and central bank digital currencies (CBDCs).
“House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda,” said Johnson.
Among the top priorities is the stablecoin legislation. Although the House had been advancing its own version, known as the STABLE Act, the focus will now shift toward the Senate-backed GENIUS Act. That bill has already passed the Senate and would require stablecoins to be fully backed by U.S. dollars or other liquid assets. It also imposes annual audits for issuers with more than $50 billion in market capitalization and outlines rules for foreign issuers.
In addition to the stablecoin bill, lawmakers will also review the Digital Asset Market Clarity Act. This broader framework aims to clarify how the SEC and CFTC regulate crypto assets. The bill includes provisions for investor disclosures, custody requirements, and segregation of customer and corporate funds.
Finally, the House will consider legislation led by Majority Whip Tom Emmer that seeks to block the Federal Reserve from issuing a CBDC directly to individuals, citing privacy concerns.
The crypto agenda has drawn partisan divides, with Democrats criticizing Trump’s growing ties to the industry. Bloomberg estimates the president has profited over $620 million from family-affiliated crypto ventures, including the World Liberty Financial DeFi platform and branded meme coins like TRUMP and MELANIA.
Despite the controversy, Republicans are pushing forward. “A new day for American excellence has finally arrived,” Emmer stated, vowing to deliver legislation that would make the U.S. “the crypto capital of the world.”
U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins has emphasized the agency’s continued focus on investor protection, addressing insider trading, market manipulation, and the evolving landscape of cryptocurrency regulation.
Arizona Governor Katie Hobbs has officially vetoed House Bill 2324, a legislative proposal that aimed to create a state-managed reserve fund for holding seized cryptocurrency assets.
The U.S. Securities and Exchange Commission (SEC) is in the early stages of developing a standardized listing framework for token-based exchange-traded funds (ETFs), according to a July 1 report by journalist Eleanor Terrett.
The U.S. Securities and Exchange Commission (SEC) has officially approved the conversion of the Grayscale Digital Large Cap Fund into an exchange-traded fund (ETF), finalizing its transition from an over-the-counter product into a fully regulated ETF structure.