Crypto week set for July 14 as House GOP pushes key digital asset bills - Coinfea

The U.S. House of Representatives will officially pick up where Crypto Week left off, paying attention to a list of key cryptocurrency bills that seek to define the regulation of digital finance, starting on July 14. Intended by House Speaker Mike Johnson and Financial Services Committee Chair French Hill and Agriculture Committee Chair GT Thompson, the move is part of the Gaopai Republican attempts to make its policy consistent with that of Donald Trump, who is a former President and is now pursuing an agenda that embraces cryptocurrencies.

ContentsStablecoin bill tops legislative agendaMarket structure bill aims to define oversight rolesCBDC ban bill sparks debate over financial privacyDuring the week, legislators are set to discuss and pass a number of bills concerning digital asset regulation, oversight of stablecoins, and the transparency of market structure. In a move precipitated by Trump openly calling lawmakers to pass a bill on digital currencies, GOP leaders have stressed the importance of moving a stablecoin bill through by August.

Stablecoin bill tops legislative agenda

The main attention will be paid to the stablecoin bill, where the House is predicted to take the Senate-approved GENIUS Act. According to this legislation, all stablecoins are to be backed by U.S. dollars or other liquid assets. It also subjects issuers with market values over 50 billion to stringent audit requirements, and foreign-based entities are also subject to the rules.

Earlier, the House had been supporting its enactment, the STABLE Act, which harbored some more gumby regulatory frameworks and a different standpoint on international issuers. Nonetheless, it seems that the Republican leadership is willing to take up the Senate version to meet the August deadline. The GENIUS Act has already passed through the Senate, and thus, it is a wise decision to advance the bill quickly to the President’s table.

## Market structure bill aims to define oversight roles

The Digital Asset Market Clarity Act is another bill that will be discussed during Crypto Week. It seeks to clarify the Securities and Exchange Commission and the Commodity Futures Trading Commission’s regulatory responsibilities. The bill would compel crypto companies to make auditable financial announcements and separate customer finances from slush funds.

The OPs cite the legislation as one that will reduce confusion with digital asset regulation and avoid lunatics such as the FTX crash in the future. Most of the opposition to the bill has come from critics, largely on the Democratic side, who cite that the bill could benefit politically affiliated parties of the crypto sector, such as Trump himself, who has profited significantly from a number of digital currency projects.

CBDC ban bill sparks debate over financial privacy

House Majority Whip Tom Emmer will file a bill that prohibits the Federal Reserve from releasing a consumer-facing central bank digital currency. According to Emmer, this would be a dangerous step that would threaten financial privacy and individual freedoms. The move may result in greater scrutiny of government surveillance of private transactions.