With President Trump’s economic bill finally signed off, House Republicans are shifting gears—big time. And this time, it’s crypto that’s taking center stage.
Next week, Capitol Hill turns its gaze to digital assets, with House leadership officially dubbing it “Crypto Week.” The week is expected to see movement on three major pieces of legislation: a long-awaited stablecoin regulation bill, a sweeping crypto market structure bill, and a ban on any future U.S. central bank digital currency (CBDC). Whether this ends up being a landmark moment or just political theater remains to be seen—but one thing’s clear: something real is brewing.
What’s on the Table?
It’s not just chatter anymore. Three distinct bills, each with its own weight and timeline, are set to be debated. They may not all survive intact, but stablecoins? They’re likely going all the way.
The stablecoin bill is the most advanced of the bunch. The Senate’s version, the GENIUS Act, already passed. The House had its own version, the STABLE Act, but now, Trump is urging the House to just pass GENIUS as-is—no back-and-forth, no delay. Get it done, get it signed.
Meanwhile, the broader crypto market bill is a beast. A 236-page monster that attempts to overhaul how the government handles all things crypto—from who regulates what, to how exchanges and projects are treated.
And then there’s the CBDC ban. It’s straightforward. It’s simple. It’s mostly symbolic. The Federal Reserve hasn’t exactly been itching to roll out a digital dollar anytime soon. But still, the bill matters—it’s a political statement, loud and clear.
Industry Cheers, But With Caution
Crypto firms have been waiting for this kind of attention. For years, they’ve operated in murky legal waters, where regulators reused old laws from the 1930s to try and handle 21st-century technology.
“Trying to regulate crypto with rules written before blockchain existed? That’s just a mess,” said Summer Mersinger, CEO of the Blockchain Association, at a Senate Banking Committee hearing on July 9.
She wasn’t just venting. Mersinger made it clear: the lack of proper legislation is driving U.S. innovation overseas. Countries like the U.K., Singapore, and the UAE are already rolling out frameworks that attract startups. The U.S.? It’s been slow. Really slow.
One House aide said quietly, “If we don’t act soon, we’re gonna be watching this industry grow—from the sidelines.”
Trump’s Crypto Embrace Is No Accident
Let’s not pretend this is only about policy. The politics here are thick.
Trump has leaned into pro-crypto messaging more and more. His team sees it as a wedge issue that can energize libertarian-leaning voters and younger tech enthusiasts. His family has crypto ventures, and some Democrats have raised alarms about conflicts of interest.
Anthony Georgiades, a VC and partner at Innovating Capital, put it bluntly: “This is a real step forward on policy—but make no mistake, it’s also a campaign move.”
He’s not wrong. You don’t schedule “Crypto Week” right after passing your top-line economic bill unless you want headlines. And with Biden’s camp largely staying quiet on digital assets, Trump’s GOP has an open field.
What Each Bill Means—And How Close They Are
Each of the three crypto bills has a different flavor, pace, and chance of survival.
Here’s a breakdown of where they stand:
| Bill | Focus | Status | Likelihood of Passage |
|---|---|---|---|
| GENIUS Act | Stablecoin Regulation | Passed Senate; Trump wants House to adopt | Very High |
| CLARITY Act | Crypto Market Structure | Still in House; Senate not ready | Moderate |
| CBDC Ban | Blocks Fed from Issuing Digital Dollar | Early stages; low resistance | High |
The GENIUS Act is what everyone’s watching. If the House goes with Trump’s push and adopts the Senate’s version, it could hit the President’s desk by the end of next week.
That would be the first real crypto legislation at the federal level. Ever.
Real Progress or Just a Head Fake?
That’s the million-dollar question.
Some industry voices are skeptical. After all, Washington has flirted with crypto reform before, only to get bogged down in committees and partisan bickering. Is this any different?
Hadley Stern, former global head of custody at BNY Mellon and now CCO at Marinade, says yes—sort of.
“This week could deliver the industry’s first major federal legislative win, especially around stablecoins,” he said. “Even if more ambitious reforms take longer.”
He called the CBDC ban “more symbolic than substantive,” but noted that even symbolism has power—especially in politics.
One staffer close to the House Financial Services Committee said, “There’s momentum. There’s coordination. And for once, there’s not just talk. There’s paper.”
Why This Week Matters More Than Most
Beyond the bills themselves, this moment feels like a turning point.
• Crypto is no longer just a sideshow for tech bros and Twitter traders.
• It’s being debated at the highest levels of government.
• And it’s being taken seriously—by both parties, even if for different reasons.
This shift could help legitimize the sector in the eyes of institutional investors, banking giants, and yes, regular voters. If laws are passed and signed, it becomes harder for federal agencies like the SEC to run enforcement by ambiguity.
And if that happens? The U.S. might finally stop bleeding innovation to places with clearer rules and better incentives.
Not everyone’s convinced. But even skeptics admit: this week’s different.
