The White House recently celebrated the passage of a major legislative package dubbed “One Big Beautiful Bill,” with White House AI and crypto czar David Sacks expressing his delight at the achievement. Sacks, in a tweet on July 3rd, commended President Trump and legislative leaders for their efforts in securing victories on border security, tax cuts, welfare reform, and deregulation. He then shifted focus to the administration’s next priority, highlighting the upcoming Crypto Week in the House scheduled for July 14. Sacks announced that the GENIUS Act (focused on stablecoins) is on its way to the President’s desk, while the CLARITY Act (market structure) is headed to the Senate.
The passage of the GENIUS Act by the US Senate on June 17 marked a significant milestone in establishing a federal regulatory framework for a dollar-pegged stablecoin regime. The Act empowers the US Treasury Department with oversight functions and paves the way for regulated operations in the stablecoin environment by banks, fintech firms, and retailers.
On the horizon is the CLARITY Act, which awaits action in the House of Representatives. Introduced on May 29, 2025, the bill has progressed through House committees and is now awaiting consideration by the full House. Analysts and stakeholders are optimistic about its passage, following the successful trajectory of the GENIUS Act.
The recent legislative developments underscore the Trump administration’s commitment to advancing the digital assets sector and positioning the US as a leader in the crypto space. The aim is to solidify America’s status as the crypto capital of the world, with the newly passed bills expected to drive stablecoin adoption and bolster the overall digital assets ecosystem.
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