Crypto Week from July 14. Credit: Alesia Kozik, Pexels
On Thursday, July 3, U.S. House Financial Services Chair French Hill (AR-02), Agriculture Chair GT Thompson (PA-15), and House Leadership formally declared the week of July 14, 2025, as “Crypto Week.”
The House is scheduled to vote on three major bills aimed at shaping America’s digital asset landscape:
- The CLARITY Act – establishing rules for digital asset markets
- The Anti-CBDC Surveillance State Act – banning a U.S. central bank digital currency
- The GENIUS Act – introduced by the Senate, focused on stablecoins and innovation
Chairman Hill said the effort would “safeguard consumers and investors, provide rules for the issuance and operation of dollar-backed payment stablecoins, and permanently block the creation of a Central Bank Digital Currency (CBDC) to safeguard Americans’ financial privacy.”
He added: “We are taking historic steps to ensure the United States remains the world’s leader in innovation… I thank my colleagues in Congress and the Trump Administration for their partnership” (House Committee on Financial Services).
Legislation tied closely to Trump’s crypto agenda
House Speaker Mike Johnson (LA-04) framed Crypto Week as a delivery on President Trump’s digital asset agenda.
“House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda,” Johnson said. “I look forward to President Trump signing them into law.”
Majority Leader Steve Scalise (LA-01) echoed this: “These pieces of legislation further the President’s pro-growth and pro-business agenda… I look forward to getting these pieces of legislation to the President’s desk.”
Majority Whip Tom Emmer (MN-06) said the bills would protect financial freedom and individual privacy: “By sending these three pieces of legislation to President Trump’s desk, we will protect Americans’ right to financial privacy… A new day for American excellence has finally arrived.”
House and Senate Republicans push crypto dominance
Chairman GT Thompson called the bills overdue and the product of years of input from experts. “Time and again, we have heard the calls for regulatory clarity and certainty in this ecosystem,” he said. “It will soon be time for the House to deliver for the American people and send CLARITY to the Senate.”
Senator Tim Scott (R-SC) praised the effort: “We have a real opportunity to cement American dominance in digital asset innovation while protecting consumers and preserving financial freedom.”
Senator John Boozman (R-AR) welcomed continued coordination between House and Senate leaders: “I look forward to continued work on this important objective.”
Several Senate Republicans signalled support for Crypto Week, hinting the legislation could pass both chambers.
Senator Bill Hagerty (R-TN) called the moment a “pivotal milestone,” adding: “These pieces of legislation are vital to ensuring America is at the forefront of innovation in the digital asset space.”
Senator Cynthia Lummis (R-WY) praised Trump’s leadership and said: “As we celebrate Crypto Week, I am thrilled to partner with Chairman Hill and Chairman Thompson… Together, we are going to maintain America’s competitive edge.”
A key proposal, the Anti-CBDC Surveillance State Act, would block any U.S. central bank digital currency, citing concerns over financial surveillance.
Rep. Bryan Steil (WI-01) said banning CBDCs was essential: “Passing stablecoin and market structure legislation, alongside a CBDC ban, will ensure the U.S. wins the Web3 race.”
Rep. Dusty Johnson (SD-AL) said regulation would “allow that innovation to grow and thrive,” thanking both House and Senate leaders for backing the agenda.
Background
Crypto Week is the result of years of bipartisan committee work:
- June 2025: CLARITY Act passed House Financial Services (32-19) and Agriculture Committees (47-6)
- May 2025: Joint roundtable held on digital asset market structure
- April 2025: STABLE Act and Anti-CBDC Act passed by full House committees
- February–June 2025: Multiple op-eds and public hearings published/held by Hill, Thompson, Emmer, and Steil
- May 2024: House passed the Financial Innovation and Technology for the 21st Century Act (FIT21) and the original Anti-CBDC bill
- 118th Congress: More than 10 hearings and multiple bipartisan votes established momentum for 2025 legislation
What’s next?
With Crypto Week set to begin Monday, July 14, lawmakers hope to advance all three bills and send them to the Senate by the end of the month.
Chairman Hill expressed hope the Senate will act by September to finalise the framework.
Industry experts weigh in on price impact
Industry analysts say Crypto Week could bring significant market action.
- A clear regulatory framework could be seen as a positive, fuelling renewed investor confidence.
- Analysts from FXStreet warn that “progress around the bills could trigger a rise in digital assets like Bitcoin, Ethereum and Solana.”
- In short, Crypto Week could spark a significant price move – either upward if lawmakers deliver clarity, or downward if the bills fall short of expectations.
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