Republicans in the US Congress have announced 'Crypto Week' from July 14 to July 18, during which three key crypto bills will be reviewed. This event is a response to proposals from President Donald Trump.
Key Bills Under Review During 'Crypto Week'
During 'Crypto Week', three bills will be reviewed: the CLARITY Act, the GENIUS Act regarding stablecoins, and the Anti-CBDC Surveillance State Act. House Speaker Mike Johnson emphasized the importance of these legislative initiatives, which aim to fulfill some of Trump's digital asset promises.
Differences Between the GENIUS and STABLE Acts
The GENIUS and STABLE Acts regarding stablecoin regulation have key differences. The GENIUS Act, which has received bipartisan support in the Senate, emphasizes less stringent federal oversight compared to the STABLE Act.
Combating CBDC in Legislative Framework
The legislative agenda also includes the Anti-CBDC Surveillance State Act, which prohibits the Federal Reserve from testing or developing a digital currency. Such measures aim to protect the financial autonomy of individuals.
The discussion of bills during 'Crypto Week' highlights the Republicans' intention to advance the legalization and regulation of cryptocurrencies. The forthcoming changes could significantly impact the future of the cryptocurrency industry in the country.
