Crypto Regulation Enters Critical Week in Washington
After years of regulatory uncertainty, U.S. lawmakers may finally take significant steps toward passing landmark crypto legislation. Both the House’s Clarity Act and the Senate’s GENIUS Act (focused on stablecoins) are advancing rapidly, with key markups and potential floor votes expected next week.
This week’s flurry of activity marks the closest Congress has ever come to defining crypto’s market structure and stablecoin rules.
Clarity Act: Market Structure Bill Nears House Floor Vote
On Tuesday, the House Financial Services Committee and House Agriculture Committee are expected to hold a markup session on the Digital Asset Market Clarity Act (a.k.a. the Clarity Act). The bill aims to create a formal structure for how digital assets are regulated across agencies like the SEC and CFTC.
While there’s potential for the bill to stall, early signs point to strong enough support to advance it to a full House vote.
GENIUS Act: Bipartisan Stablecoin Bill in the Senate
Over in the Senate, the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) is on the cusp of passage. A series of cloture votes are expected as early as Monday, with Senator Ruben Gallego signaling strong bipartisan support.
If passed, the GENIUS Act would then head to the House — where its counterpart, the STABLE Act, already passed through committee earlier this year.
What’s at Stake?
• Regulatory Clarity:
The crypto industry has long demanded legal certainty. These bills could clarify who oversees what — the SEC for securities, the CFTC for commodities, and possibly a new regime for stablecoins.
• Trump’s Crypto Ties Under Scrutiny:
Ongoing hearings are highlighting potential conflicts of interest between President Donald Trump and various crypto ventures, including Truth Social’s Bitcoin ETF filing.
• Possible Delay:
While stablecoin legislation could pass both chambers before the August recess, full passage of the Clarity Act may extend into year-end, especially if lawmakers attempt to bundle both bills — a move that could generate resistance.
Other Notable Developments
- Circle Goes Public: Circle stock surged from $69 to a high of $100 on NYSE debut.
- Trump’s Bitcoin ETF Filed: Truth Social partners with NYSE Arca and Yorkville America for a spot Bitcoin ETF.
- Darknet Crackdown: U.S. seized 145 domains, including crypto funds tied to illegal activity via “BidenCash.”
- MoonPay Gets BitLicense: The popular crypto payments firm now has approval to operate in New York.
- France Cracks Down on Crypto Crime: 25 people arrested in connection with crypto-related kidnapping plots.
What’s Next?
Next week could prove pivotal. If both bills progress, Congress will finally have the opportunity to vote on comprehensive digital asset regulations — potentially reshaping the U.S. crypto landscape.
However, partisan divides, procedural delays, and ongoing scrutiny of Trump-linked crypto efforts may complicate the path to final passage.
Stay tuned — the regulatory future of crypto in the U.S. is being decided in real-time.