Crypto Goes Political: Republicans Unveil Plans In Landmark ‘Crypto Week’

The US House has set July 14 aside as “Crypto Week,” a one‑day push to fast‑track big decisions on digital money. Lawmakers say this marks a fresh effort to nail down rules on stablecoins, market structure and a possible central bank digital currency.

It all comes as Republicans move to lock in what they call US President Donald Trump’s crypto plan before August.

Swift Move On Stablecoin Backing

According to sources, the House will zero in on the GENIUS Act during Crypto Week. That bill already cleared the Senate.

It forces stablecoin issuers to back every token with US dollars or similar liquid assets. Companies with more than $50 billion in market value would face yearly audits.

NEW: Chairman @RepFrenchHill, @HouseAgGOP Chairman @CongressmanGT, and House Leadership announced that the week of July 14th will be “Crypto Week,” where the CLARITY Act, Anti-CBDC Surveillance State Act, and GENIUS Act will be considered. @SpeakerJohnson @SteveScalise… pic.twitter.com/vIUoGaoSy1

— Financial Services GOP (@FinancialCmte) July 3, 2025

These tight rules aim to prevent another FTX‑style collapse by making sure tokens aren’t just promises on a balance sheet.

Lawmakers had their own version, the STABLE Act, but it stayed stuck in committee. Turning to the Senate’s text could speed things up.

They hope to finish by a self‑imposed deadline in August. Republicans say this also lines up with comments from US President Donald Trump, who wants a law on his desk before the month ends.

Defining Who Regulates What

Based on reports, the second bill is the Digital Asset Market Clarity Act, nicknamed the Clarity Act. It draws a clear line between the SEC and the Commodity Futures Trading Commission.

The plan would force crypto firms to show their financials to customers and keep user funds in separate accounts. Sponsors say this will protect investors and let the US catch up with rivals overseas.

Democrats aren’t all sold on it. They point out that an unclear legal picture drove bad actors into gaps. Some warn that new rules could still leave holes. But Republicans argue that without this framework, innovators will set up shop abroad.

Congratulations to President Trump and the House for passing the historic Big Beautiful Bill — delivering tax cuts, securing the border, ending the tax on tips, and making the American economy stronger than ever.

Next up: Crypto Week in the House (week of the 14th).

GENIUS…

— Bo Hines (@BoHines) July 3, 2025

Blocking A Fed Digital Dollar

A third measure comes from Majority Whip Tom Emmer. His bill would bar the Federal Reserve from issuing a retail‑facing central bank digital currency, or CBDC.

Emmer says a Fed‑run digital dollar would let Washington watch every purchase. He calls it a risk to civil liberties and economic privacy.

Critics of Emmer’s ban say it overreaches. They note the Fed has shown little interest in a consumer CBDC so far. Still, his proposal taps into a broader fear of government surveillance in financial life.

House Leaders Aim For A Full Vote

House Speaker Mike Johnson, along with Financial Services Chair French Hill and Agriculture Chair GT Thompson, announced these plans on Thursday.

They’re pushing for all three bills to get debated and voted on in a single session. That same day, they released a joint statement calling this effort the “first bold step” toward US leadership in digital finance.

Featured image from Meta AI, chart from TradingView

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