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Washington’s “Crypto Week” Roundup
At a glance…
- The CLARITY Act, passed by the House, classifies digital assets and delegates regulatory authority to federal agencies.
- The GENIUS Act, now law, creates a comprehensive framework for regulating stablecoins and aims to legitimize their role in the financial system.
- The Anti-CBDC Act, passed by the House, reflects concerns about a government-issued retail digital dollar.
- “Crypto Week” marks a turning point in U.S. crypto policy, signaling friendlier regulation and laying the groundwork for increased institutional investment in digital assets.
Last week on Capitol Hill was “Crypto Week,” and below is a roundup of what happened and what it means. But despite these legislative efforts, custody of your crypto keys is still what matters most. And that’s why you need to get your crypto into cold storage.
The CLARITY Act
The CLARITY Act (Digital Asset Market Clarity Act) passed the House on July 17 and aims to eliminate longstanding regulatory ambiguity around digital assets. The bill divides digital assets into three categories: (1) securities, (2) commodities, and (3) stablecoins. It introduces registration requirements, disclosure obligations, delisting procedures, and investor protections.
Under the Act, the Commodity Futures Trading Commission is granted primary authority over digital commodities — defined as assets that derive value from a blockchain system. Meanwhile, the Securities and Exchange Commission retains oversight of digital assets that qualify as investment contracts.
The bill now moves to the Senate. The Trump administration has expressed strong support for the legislation in its current form.
Interesting fact: The CLARITY Act was part of the longest vote in modern House history — a nearly 10-hour standoff over whether to bundle it with the Anti-CBDC bill (more on that below). A late-night deal broke the deadlock, allowing the bill to advance on its own. The drawn-out vote wasn’t just political theater. It reflected deep divisions over the future of digital currency regulation in the U.S.
The GENIUS Act
Signed into law by President Trump on July 18, the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) establishes a national framework for regulating stablecoins — digital assets backed by the U.S. dollar or other fiat currency.
The law is designed to encourage innovation in the stablecoin market while also establishing clear rules to manage risk. The goal is to make stablecoins safer, more reliable, and better integrated into the broader financial system.
The Anti-CBDC Act
The Anti-CBDC Surveillance State Act passed the House on July 17 by a narrow 219–210 vote. It prohibits the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals or using it as a tool for monetary policy without explicit congressional approval.
The bill effectively codifies President Trump’s January 23 Executive Order banning CBDC development by federal agencies. It now heads to the Senate.
Tying It All Together
Together, these three bills represent a comprehensive shift in how the federal government approaches digital assets. The CLARITY Act creates a taxonomy and regulatory structure for digital assets. The GENIUS Act provides legitimacy for stablecoins under federal oversight. And the Anti-CBDC Act draws a clear line against state-controlled digital currencies. Collectively, this legislation reflects a deregulated, market-friendly philosophy aimed at encouraging innovation while setting firm limits on government overreach. For institutional investors and blockchain developers, the message is clear: the U.S. is opening the door to digital-asset innovation, but with guardrails.
To learn more about what this evolving regulatory landscape means for you, contact Brad Davis or your relationship attorney.
