Crypto Week: US House Poised to Pass Crypto Bills by July 17

Crypto Week: US House Poised to Pass Crypto Bills by July 17

As crypto week begins its second day, the United States House of Representatives is moving three significant cryptocurrency-related bills, with final votes expected as early as Wednesday or Thursday. The vote will determine the terms of floor debate on the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. These developments make Crypto Week a critical moment for digital asset policy.

Procedural Vote Scheduled for July 15

According to Majority Leader Steve Scalise’s schedule and confirmations from Rep. Eleanor Terrett on X, a procedural vote will take place today, July 15. If adopted by the House this crypto week, the GENIUS Act will be delivered directly to President Trump’s desk.

However, both the CLARITY Act and the Anti-CBDC measure will be sent to the Senate. All three proposals passed the House Rules Committee on July 14, bringing them one step closer to final enactment.

Rep. French Hill Emphasizes Need for Crypto Reform

During a Rules Committee hearing, Rep. French Hill stressed the critical need for reform in the digital asset field. He also stated that Crypto Week is a historic opportunity to improve US crypto governance.

Hill spoke about the CLARITY Act (H.R. 3633), as shown in a video published by the Financial Services Committee on X. He referred to the current regulatory framework in the United States as “broken” and warned that the country risks lagging behind international markets.

Hill stated that the law aims to end regulation-by-enforcement and establish a long-term, bipartisan framework for digital asset oversight. He said that the plan builds on years of bipartisan work, including input from regulators and market participants. This is an important legislative push during Crypto Week.

Privacy, Innovation, and Consumer Protection in Focus

However, they can only do so with congressional authorization. He contended that such a step would give the government undue power over Americans’ financial lives and jeopardize privacy. The discussion is a key focus of Crypto Week.

Hill also argued in favor of the GENIUS Act, stating that it provides the legal clarity required to foster innovation. He also stated that it retains the dollar’s worldwide reserve status.

He claims that the bill expands on earlier House initiatives to impose stringent consumer protection regulations on stablecoin issuers. These measures have come together during one week, emphasizing bipartisanship in the House. This development supports an earlier CoinGape story that the US House will take significant action on the GENIUS and CLARITY Acts during ‘crypto week.’

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