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The U.S. House is set to vote on three critical crypto bills during the designated “Crypto Week”. This development could potentially establish the first comprehensive regulatory framework for digital assets in America.
According to sources, the first bill up for consideration is the Digital Asset Market Clarity Act (CLARITY Act), which aims to establish clear regulatory frameworks for U.S. crypto activity. This legislation would define the roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in regulating digital assets, while also providing certain exemptions from securities registration requirements for some blockchain-based offerings.
The second bill scheduled for a vote is the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. This legislation has already cleared the Senate with broad bipartisan support. If passed without changes, it would head directly to President Trump’s desk for signature, potentially becoming the first major cryptocurrency law in the United States.
The GENIUS Act establishes rules for stablecoin issuers like Circle (USDC) and Tether (USDT). It mandates that these companies maintain reserves backing their stablecoins on a one-to-one basis with U.S. dollars or similarly liquid assets. The legislation also extends Bank Secrecy Act provisions to stablecoin issuers.
Some economic experts have expressed concerns that the backing requirements could pose risks to the U.S. monetary system.
Source: blockonomi.com
