Washington D.C. is signaling a significant shift in its approach to digital assets, with a concentrated legislative push dubbed “<\/span>Crypto Week<\/span><\/a>” set to dominate the week of July 14th, 2025. This landmark initiative, championed by key House leaders including Financial Services Committee Chairman French Hill and Agriculture Committee Chair Glenn Thompson, aims to redefine the regulatory landscape for cryptocurrencies in the United States.\u00a0<\/span><\/p>\n
Following closely on the heels of President Trump’s “<\/span>Big Beautiful Bill<\/span><\/a>,” which notably omitted any crypto-specific provisions, this focused legislative period underscores a renewed commitment to establishing clear rules and fostering innovation within the burgeoning digital asset sector.<\/span><\/p>\n
The designation of Crypto Week reflects a broader evolution in Washington’s perception of digital assets, moving them from the fringes to a central policy discussion. This approach aims to maintain America’s position as a global leader in blockchain technology. The week’s agenda is filled with pivotal legislation, including the CLARITY Act, the <\/span>Anti-CBDC Surveillance State Act<\/span><\/a>, and the GENIUS Act<\/a>, each targeting critical aspects of the cryptocurrency ecosystem.<\/span><\/p>\n
A cornerstone of Crypto Week is the <\/span>CLARITY Act<\/b><\/a>, a bipartisan effort designed to establish a unified and comprehensive regulatory framework for digital assets. For years, the cryptocurrency industry has grappled with uncertainty stemming from overlapping jurisdictions between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The CLARITY Act seeks to resolve this by clearly delineating regulatory responsibilities.<\/span><\/p>\n
Adding another critical layer to “Crypto Week” is the <\/span>Anti-CBDC Surveillance State Act<\/b>. This legislation, which has already passed the House of Representatives, aims to safeguard Americans’ financial privacy by preventing the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. Spearheaded by figures like Congressman Tom Emmer, the bill addresses widespread concerns that a government-controlled digital currency could enable unprecedented financial surveillance and control over citizens’ spending habits.<\/span><\/p>\n
The Act explicitly prohibits<\/em> the Federal Reserve from designing, building, developing, establishing, or issuing a CBDC, and also prevents the Treasury Department from directing such actions. It emphasizes Congress’s sense that a CBDC could lead to extensive and unwarranted surveillance and prohibits the Federal Reserve’s ongoing CBDC pilot programs.\u00a0<\/span><\/p>\n
The <\/span>GENIUS Act<\/b><\/a>, having recently passed the Senate with bipartisan support (68-30 vote) establishes the first comprehensive federal framework for payment stablecoins, defining them as digital assets used for payments that are redeemable for a fixed monetary value and maintain stable value.<\/span><\/p>\n
Key provisions mandate that “permitted payment stablecoin issuers” must maintain reserves on a 1:1 basis with U.S. currency or highly liquid assets like Treasury bills. These issuers will be treated as financial institutions under the Bank Secrecy Act, requiring robust AML programs and customer due diligence. The GENIUS Act proposes a bifurcated regulatory framework, subjecting stablecoin issuers with market capitalizations exceeding $10 billion to federal oversight, while allowing smaller issuers to elect state-level regulation provided it meets federal standards. <\/span>However, lobby are still pursuing changes the Act – particularly in regard to its banning of stablecoins generating yield.\u00a0<\/a><\/span><\/p>\n
While not directly part of the <\/span>Crypto Week<\/span><\/a>\u00a0legislative package, Senator Cynthia Lummis’s recently introduced <\/span>draft crypto tax bill<\/span><\/a> complements the broader push for regulatory clarity. To simplify tax responsibilities for both regular cryptocurrency users and innovators, this proposal includes a de minimis exemption. This exemption would allow capital gains on digital asset transactions of $300 or less, up to an annual limit of $5,000, making it more practical to use cryptocurrencies for small purchases, such as buying coffee, without triggering complex tax reporting requirements.<\/span><\/p>\n