The US Congress is kicking off 'Crypto Week', where three bills aimed at providing clear regulatory frameworks for the cryptocurrency industry will be discussed.
Introduction to Crypto Week
'Crypto Week' was announced by French Hill, chair of the House Committee on Financial Services, on July 3. The event will feature the discussion and voting on three bills: CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act.
Three Key Bills
1. **CLARITY Act** — provides a regulatory framework for the crypto industry, defining the roles of the SEC and CFTC. 2. **GENIUS Act** — sets rules for stablecoin issuers, requiring reserves on a one-to-one basis with US dollars. 3. **Anti-CBDC Surveillance State Act** — prevents the central bank from issuing a digital currency and regulates monetary policy.
Positions of the Parties and Important Dates
Republicans are actively supporting these bills, while Democrats oppose them, labeling them as dangerous. Key dates include the discussion of the bills at the Rules Committee meeting on July 14, with votes on the CLARITY Act and Anti-CBDC Surveillance State Act scheduled for Thursday.
'Crypto Week' in the US presents a significant step towards possible adoption of impactful legislation that could reshape cryptocurrency regulation.
