U.S. to Debate Three Key Bills That Could Reshape the Crypto World
If approved, the GENIUS Act would bar unregistered foreign issuers from offering stablecoins to U.S. residents.
Quick overview
- Between July 14 and 18, the U.S. Congress will vote on three significant bills that could transform global digital asset regulations.
- The GENIUS Act, supported by President Trump, aims to regulate stablecoins with stricter oversight and transparency requirements.
- The State Anti-CBDC Surveillance Act seeks to prevent the Federal Reserve from issuing a centrally controlled digital dollar due to privacy concerns.
- Analysts predict that the passage of these bills could lead to a substantial increase in the stablecoin market, potentially reaching $3.7 trillion by 2030.
Between July 14 and 18, the U.S. Congress will decide the fate of three pivotal pieces of legislation that could reshape the future of digital assets globally.
Dubbed “Crypto Week”, the U.S. House of Representatives is set to vote on a package of bills that aim to establish new regulatory frameworks for cryptocurrency operations. The proposals have received broad support from major players in the crypto industry.
However, critics warn that they could unintentionally weaken the U.S. dollar and disrupt international payment systems.
Among the most anticipated initiatives is the GENIUS Act, which has the backing of President Donald Trump, who has called for its approval before the congressional recess in August.
The House will also vote on the State Anti-CBDC Surveillance Act, already passed by the lower chamber, which seeks to prohibit the Federal Reserve from issuing a centrally controlled digital dollar—citing privacy concerns.
The third bill, the CLARITY Act, aims to create a comprehensive market structure by clarifying which digital assets are securities and which are commodities, while also establishing operational standards for exchanges. Notably, it would ban U.S. government employees from using blockchain platforms developed in China, citing national security risks.
The GENIUS Act: The Centerpiece of Crypto Week
The GENIUS Act focuses on regulating stablecoins—digital currencies pegged to real-world assets. Two of the largest issuers are Tether (USDT) and Circle (USDC).
The bill, which passed the Senate last month, proposes stricter oversight for stablecoin issuers. It would require a 1:1 backing with physical reserves, robust capital requirements, and enhanced transparency, under federal supervision.
Supporters say the legislation is a clear signal that U.S. lawmakers are taking a practical approach to digital asset innovation. One industry executive called it “a foundational bridge for traditional finance to explore blockchain-based payments and settlements.”
If approved, the GENIUS Act would bar unregistered foreign issuers from offering stablecoins to U.S. residents. It would also grant the Federal Reserve the authority to restrict or block access to foreign stablecoins that pose risks to financial stability or consumer protection.
A Stablecoin Boom Ahead?
Analysts predict a surge in stablecoin development tailored to meet real-world financial needs—from cross-border remittances to on-chain settlements.
According to a recent report from Binance, the law could allow banks, fintech firms, and even large retailers to issue dollar-backed coins under a unified regulatory framework—something the market has long anticipated.
Estimates from the U.S. Treasury put the current stablecoin market at $250 billion, with projections rising to $3.7 trillion by 2030. Treasury Secretary Scott Bessent noted last month that “this scenario becomes far more likely if the GENIUS Act is passed.”
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