Move over, big, beautiful bill: Crypto Week is coming

With President Trump’s sweeping domestic policy package now law, the US House is turning to a stack of crypto bills

article-image

Democrat Senator Angela Alsobrooks | Peter Serocki/Shutterstock modified by Blockworks

share


This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.


It was a busy holiday weekend in the US. 

The headline news was that President Trump signed his sweeping domestic policy package — the “big, beautiful bill” — into law on July 4. 

With the BBB squared away, the White House is back in tariff mode. Reciprocal tariffs on dozens of countries are slated on Wednesday to move back to the higher levels set on so-called Liberation Day.

This morning, in two Truth Social posts, Trump shared letters presumably sent to Japanese Prime Minister Ishiba Shigeru and South Korean President Lee Jae-myung. They stated that the US will impose a 25% blanket tariff on all imports from both countries starting on Aug. 1.

Passing the BBB was Republican lawmakers’ first Trump-imposed deadline, but there’s another due date looming. The president wants a stablecoin and market structure bill on his desk by August. 

With only three more work weeks before Congress’ summer recess begins, they’ll have to work quickly. 

To get this done, the US House last Thursday declared the week of July 14 as “Crypto Week.” Representatives will consider three digital asset-focused bills: the GENIUS Act, the CLARITY Act and the Anti-CBDC Surveillance Act. 

The GENIUS Act passed in the Senate last month with a final tally of 68-30. There were 18 Democrats who voted “yea.” 

Hailed by proponents as a milestone for the crypto industry and an important first step in bringing regulation to a facet of the market, those against the GENIUS Act argue the bill doesn’t provide enough consumer protection and unfairly benefits Trump-linked stablecoin interests. Sen. Elizabeth Warren is just one of several vocal Democrats criticizing the bill.

Other Dems admit that the bill might not be perfect, but it’s better than nothing. 

“We weren’t able to include certainly everything we would have wanted, but it was a good bipartisan effort,” Democrat Senator Angela Alsobrooks told reporters last month ahead of the Senate vote. “This is an unregulated area that will now be regulated.”

Now House members will have a look at the bill, and they’re going to make changes. Representatives are likely to try and bring the bill more in line with the STABLE Act, a similar version of the legislation that never made it to the Senate. 

The GENIUS Act notably calls for a tiered approach to overseeing stablecoin issuers, allowing those with under $10 billion in issued assets to be monitored at the state level. The STABLE Act establishes that the primary authorities for stablecoin regulation will be at the federal level, and state power is more conditional. 

The CLARITY Act is the House’s stab (via the Financial Services and Agriculture Committees) at a crypto market structure bill. The proposed legislation divides authority between the CFTC and SEC and establishes a formal definition for “digital commodities.” Next week, we expect Reps. will quarrel about innovation vs. investor protection and get into decentralization thresholds. 

The Anti‑CBDC Surveillance State Act probably ranks last in the order of most important crypto measures in the House. But it’s still an issue many Republicans feel strongly about. 

The bill seeks to block the Fed from issuing or researching a federal central bank digital currency. Again, the market structure and stablecoin bills will “Trump” (see what we did there) the anti-CBDC bill, but the latter will be part of “Crypto Week” nonetheless.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

Bitcoin’s runaway success was partly driven by Slashdot

article-image

Blockworks Research data shows that VC spending is back on the rise after a slow May

article-image

After rejecting a bid from the AI cloud-computing startup last year, Core Scientific agreed to be acquired in a deal expected to close by Q4 2025

article-image

Sponsored

Plume’s collaboration with TRON will unlock cross-chain RWA yield for one of the world’s largest blockchain ecosystems

article-image

Who needs gold when you have taxes?

article-image

BAXUS helped me sell my limited-edition bottle of Clase Azul