The U.S. House of Representatives declares mid-July as Crypto Week and will review multiple cryptocurrency bills
Internet reports that the U.S. House leadership announced on Thursday that July 14 will be designated as "Crypto Week", during which three important cryptocurrency bills will be reviewed: the GENIUS stablecoin Act, the Digital Asset Markets Clarification Act, and a bill on Central Bank Digital Currency (CBDC). The GENIUS Act requires stablecoins to be fully backed by U.S. dollars or highly liquid assets and conducts annual audits of large issuers. The Digital Asset Markets Clarity Act aims to clarify the regulatory responsibilities of the SEC and CFTC, while also requiring digital asset companies to provide retail financial disclosures and isolate company and client funds. House Speaker Mike Johnson said the moves were "decisive steps towards realizing President Trump's digital asset and cryptocurrency agenda." Trump had previously required that the stablecoin bill be delivered to his desk by August, and this "Crypto Week" arrangement is expected to help lawmakers meet that deadline.
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