This week marks a major milestone for the crypto industry as the House gears up for votes during its designated “Crypto Week.” The centerpiece? The long-anticipated GENIUS Act, which already secured bipartisan Senate approval in June.
For the first time, this legislation would create a federal framework for payment stablecoins, laying the groundwork for much-needed clarity and consumer protection. Key features include: ✅ Stablecoins must be backed by liquid assets, ensuring real reserves. ✅ Mandatory monthly audits and public disclosures to enhance transparency. ✅ Dual federal-state oversight for better accountability and compliance.
In addition to the GENIUS Act, lawmakers plan to vote on the CLARITY Act, which aims to refine crypto market regulations, and a bill to ban a central bank digital currency (CBDC) — reflecting concerns over privacy and government overreach.
These votes could signal a turning point for digital asset regulation in the US, potentially unlocking new opportunities for innovation and growth, while providing clear guardrails for businesses and consumers alike.