Lead
On July 17, 2025, the U.S. House of Representatives passed a trio of critical cryptocurrency bills, signaling the first major federal regulatory effort for digital assets. The legislation heads to President Trump for signing, marking a turning point in crypto policy that could legitimize and stabilize the industry. (TradingView, AP News)
What Passed
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GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act)
- Creates a comprehensive federal and state regulatory framework for U.S. dollar–pegged stablecoins.
- Mandates reserve backing, transparency, monthly disclosures, audits, and AML controls.
- Passed House 308–122; Senate cleared earlier 68–30. (CoinDesk, Wikipedia, Cinco Días)
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Digital Asset Market Clarity Act
- Clarifies regulatory authority between the SEC and CFTC to reduce overlap and confusion.
- Aims to foster clearer oversight and innovation. (Reuters, Financial Services Committee)
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Anti‑CBDC Surveillance State Act
- Prevents the Federal Reserve from issuing a central bank digital currency (CBDC), addressing privacy and surveillance concerns. (MarketWatch, AP News)
Together, lawmakers dubbed this legislative push “Crypto Week,” presenting a coordinated package to secure U.S. leadership in the digital asset space. (Financial Services Committee)
Market and Industry Reaction
- Market cap surged near $4 trillion as Bitcoin, Ethereum, and XRP rallied on optimism. (TradingView)
- XRP hit a new all-time high above $3.50, surpassing its 2018 peak, as traders cheered regulatory clarity. (CoinDesk)
- Bitcoin fluctuated around $119 k, with institutional inflows into BTC and ETH spot ETFs supporting prices. (The Economic Times)
Institutional and Expert Views
- Bank of America forecasts growth in stablecoin infrastructure, benefiting traditional finance—banks, Visa, Mastercard, PayPal, Shopify—as legislation enables integration. (Business Insider)
- MarketWatch notes that GENIUS, Clarity, and Anti-CBDC are expected to strengthen U.S. crypto regimes, akin to Europe’s MiCA, though caution that legislative momentum may fade. (MarketWatch)
Risks & Criticism
- Political divisions persist: Rep. Marjorie Taylor Greene criticized GENIUS, warning of surveillance risks and lack of explicit CBDC prohibition. (The Daily Beast)
- Conflict‑of‑interest concerns: The president’s family isn’t bound by GENIUS’s anti-stablecoin‑profit rules—raising governance alarms.
What’s Next
- Presidential signature: GENIUS moves to the White House; if signed, it’ll enforce new stablecoin rules.
- Senate movement: Clarity and Anti-CBDC acts await approval—anticipated debate through summer.
- Industry impact: Issuers and financial institutions may accelerate stablecoin launches and compliance systems ahead of deadlines.
- Global context: U.S. policy is aligning with global standards, especially those established under MiCA in the EU—potentially boosting crypto’s legitimacy and interoperability.
What This Means for Crypto Enthusiasts
- Regulatory clarity helps legitimise projects and could unlock institutional capital.
- Stablecoin innovation is set to accelerate, supporting on‑chain payments and programmability.
- Privacy concerns remain, notably around federal digital currencies—highlighting the importance of public oversight.
Bottom Line
The passage of these three bills marks a historic regulatory milestone in U.S. crypto policy—combining clarity, enablement, and protection. While full implementation lies ahead, the momentum reflects growing consensus: clear rules can unlock innovation and institutional trust. Still, observers caution vigilance on enforcement, privacy safeguards, and avoiding political entanglements.
Disclaimer: This article is for informational purposes only. It does not constitute financial advice. Always conduct your own research.