The House next week will hold a “crypto week” to advance legislation that would further President Donald Trump’s pro-cryptocurrency agenda.
The House will consider three pieces of legislation that would seek to provide a clear regulatory framework for the burgeoning cryptocurrency industry.
This includes:
- The CLARITY Act that would set clear regulatory framework for the digital asset industry while also prioritizing consumer protection and fostering innovation
- The Anti-CBDC Surveillance Act would bar unelected bureaucrats from issuing a Central Bank Digital Currency (CBDC) that would undermine Americans’ right to financial privacy
- The GENIUS Act would set a light-touch regulatory framework for the issuance of stablecoins, which are digital assets that are pegged to the value of a fiat currency such as the U.S. Dollar.
House Majority Whip Tom Emmer (R-MN) said in a statement in early July:
This is a historic opportunity for the United States. After years of work, American innovators are one step closer to having the clarity they need to build here at home while ensuring the future of the digital economy reflects our values of privacy, individual sovereignty, and free-market competitiveness. By sending these three pieces of legislation to President Trump’s desk, we will protect Americans’ right to financial privacy and deliver on our promise to make the United States the crypto capital of the world. A new day for American excellence has finally arrived, and now it’s time to get the job done.
House Financial Services Committee Chairman French Hill (R-AR) this week joined the Thinking Crypto podcast to preview the House’s “Crypto Week.”
“I think that a dollar-backed payment stablecoin extends the brand of the dollar. It extends the power of the dollar as the reserve currency whether they’re stablecoin issuers here in the United States under U.S. law, or whether it’s a dollar-backed stablecoin issuer outside the U.S., that fundamental tenet is it’s going to be backed by short Treasuries,” Hill said about the need to pass the GENIUS Act.
“It was actually the programmability of the blockchain operating system and writing applications there to remove costs, to make it easier to improve documentations, to reduce fraud, to drive cost out of a system of a traditional analog paper-based system,” Hill said about what he appreciates about cryptocurrency.
“Huge week ahead — it’s Crypto Week in the House! GENIUS heads to the President’s desk. Clarity moves to the Senate. Time to make America the Crypto Capital of the World,” Bo Hines, the executive director of the president’s Council for Digital Assets, wrote.
Sean Moran is a policy reporter for Breitbart News. Follow him on X @SeanMoran3.
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