US House Advances Key Crypto Bills Ahead Crypto Week

The US Congress is intensifying efforts to establish a comprehensive regulatory framework for digital assets during the upcoming 'Crypto Week' from July 14 to 18, aiming to reinforce America's leadership in cryptocurrency innovation. Key legislation under consideration includes the GENIUS Act, which has passed the Senate and focuses on regulating USD-backed stablecoins with stringent reserve and compliance requirements, and the CLARITY Act, designed to clarify jurisdiction between the SEC and the CFTC over digital assets. President Donald Trump’s administration is strongly supporting these initiatives, including the creation of a Strategic Bitcoin Reserve using seized Bitcoins, signaling a pro-crypto stance. Senate hearings scheduled for July 9 will feature prominent industry leaders discussing market structure and liquidity, helping shape the forthcoming regulatory landscape. These legislative efforts seek to protect consumers, foster innovation, and prevent the creation of a Central Bank Digital Currency to safeguard financial privacy. Market analysts and crypto firms view these developments as pivotal for attracting institutional investment and positioning the US as a global crypto hub.