Crypto week is happening in Washington, DC, and several bills are in the queue for a House vote.
The Clarity Act (HR 3633), the legislation that aims to provide guidance on how different digital assets are regulated and which agency has oversight, is expected to go to a floor vote on Wednesday.
Following the CLARITY Act will be the GENIUS Act (S 1582) legislation creating federal rules for “payment stablecoins.”
The Anti-CBDC Surveillance State Act (HR 1919), the bill banning consumer central bank digital currencies, is also in the mix.
The Chairman of the House Financial Services Committee, French Hill, and House Committee on Agriculture Chairman G.T. Thompson, posted an Op-ed in The Hill declaring this is just the beginning for digital assets in the US.
“Under President Trump’s leadership, and with congressional action, we are finally on track for regulatory clarity, market protection, and innovation without fear of government overreach,” said the two Representatives. “Together, we are unleashing America’s full potential and claiming our place as the global leader in digital assets.”
The GENIUS Act is relatively straightforward, and established firms issuing digital money should be able to benefit from the bill once it becomes law. Legacy financial services firms are expected to move quickly to benefit from the technology, as payment stablecoins are really just an update to how value is transferred.
The CLARITY Act is a bit more involved. As was published last week, one insider described the GENIUS Act as “a scalpel—surgical, targeted, and ready to solve a $160 billion problem.” And he said the CLARITY Act is a “Swiss Army knife—important, but sprawling and slow.”
Representatives Hill and Thompson have declared that the era of digital assets is no longer a “promise” but a “national priority,” as policymakers seek to make the US the leading digital asset hub for innovation.