The US House members have declared the week of July 14 as “Crypto Week,” another pro-crypto act focused on driving digital asset innovation in America
French Hill, the chairman of the Committee on Financial Services, and GT Thompson, the chairman of the Committee on Agriculture, along with other key House leadership, endorsed this pro-innovation move on Thursday, July 3.
Consequently, the US House dedicated the week spanning from July 14 to 18 to comprehensively tackling crypto-related legislation. Among the primary agenda for the week are the CLARITY Act, the Anti-CBDC bill, and the US Senate’s GENIUS Act.
A Full Week Dedicated to Driving Crypto Innovation
After the US House of Representatives passed Donald Trump’s “Big Beautiful Bill” on Thursday, their attention has now turned to crypto bills. Through a coordinated effort by the US House GOP, the lawmakers have dedicated a whole week to deliberating on and passing legislation specific to the digital assets industry.
Notably, in hindsight, not many would have foreseen this week coming. Barely a year ago, the United States repelled cryptocurrencies under the Joe Biden administration, with former US SEC Chair Gary Gensler in power.
Meanwhile, Trump is keeping to his promises of making America the crypto capital of the world. He recently called Bitcoin “amazing” and claimed he had built the crypto industry. Now, the latest US House announcement reflects that the crypto innovation push is now a national interest.
US House to Approve Multiple Crypto Bills in July?
The US House aims to pass the GENIUS Act, a stablecoin bill that has already passed in the US Senate. The bill aims to establish clear guidelines for dollar-pegged cryptocurrencies, projected to attract trillions of dollars into the US economy. Notably, Trump has passionately called on the House to expedite the bill’s delivery to him for final approval.
Furthermore, the House would also attempt to pass the CLARITY Act and quickly move it to the Senate. Remarkably, the bill has already passed a vote from both the Agriculture and Financial Services Committees and now requires full House support to pass.
Finally, the US House would deliberate on the Anti-CBDC Surveillance State Act, a bill that aims to prohibit the Central Bank from establishing a digital currency. The House Financial Services Committee approved the legislation with a slim 27-22 vote in April, keeping the proposal alive.
Meanwhile, several remarks followed the announcement, with several members of the House of Representatives expressing their optimism ahead of “Crypto Week.” Chairman Hill called the move a “historic step” to ensure that the United States remains the world’s leader in the crypto landscape.
“We are advancing landmark legislation to establish a clear regulatory framework for digital assets that safeguards customers and investors,” he added.
Additionally, Senator Cynthia Lummis lauded the effort of Congress to capitalize on Trump’s friendly stance on digital assets. “For the first time in US history, we have a president who sees the value in embracing digital assets,” she stated.