Overview

• From July 14 to 18, the U.S. House will hold “Crypto Week” to decide on the GENIUS Act for stablecoins, the Digital Asset Market Clarity Act and the Anti-CBDC Surveillance State Act.
• The GENIUS Act would require stablecoins to be backed one-to-one with liquid assets and impose monthly reserve disclosures under federal oversight.
• The Digital Asset Market Clarity Act seeks to define when digital tokens are securities or commodities, clarifying SEC and CFTC jurisdiction.
• The Anti-CBDC Surveillance State Act would bar the Federal Reserve from issuing a retail central bank digital currency to protect consumer privacy.
• Bitcoin has surged above $118,000 on investor optimism while Coinbase’s full-page Washington Post ad urges lawmakers to enact clear, sensible crypto rules as Democrats debate ethics and protections.