In a significant development for the U.S. cryptocurrency landscape, three pivotal bills are poised to pass through the House of Representatives in the coming days. The GENIUS Act, Clarity Act, and Anti-CBDC Act could reshape regulatory frameworks and offer clarity to an industry in desperate need of it.
GENIUS Act: Pioneering Stablecoin Regulation
The “Guiding and Establishing National Innovation for U.S. Stablecoins of 2025” (GENIUS) Act stands at the forefront, having already secured Senate approval. Its aim? To create a comprehensive framework for overseeing stablecoins, which have become a cornerstone of the crypto ecosystem. If passed, it would mark a historic moment as the first crypto-focused bill signed into law by the federal government. Katherine Dowling, general counsel at Bitwise, noted, “This is the kind of regulatory clarity the industry has been craving. It’s not perfect, but it’s a start.”
The GENIUS Act’s passage would signify a major leap forward for stablecoin regulation, potentially setting a benchmark for other nations grappling with the complexities of digital currencies. With stablecoins often seen as a bridge between traditional finance and the crypto world, the act’s implications could ripple across global markets.
Clarity Act: Defining Boundaries
Meanwhile, the “Digital Asset Market Clarity Act of 2025” seeks to delineate jurisdictional boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). This delineation has long been a point of contention, with many in the industry calling for clear guidelines. Dowling emphasized the significance: “The Clarity Act could finally provide the regulatory guardrails we’ve been waiting for, enabling crypto companies to operate with confidence.” As highlighted in Industry Coalition Urges House Of Representatives To Support CLARITY Act Ahead Of ‘Crypto Week’, there is strong industry support for this bill, underscoring its potential impact.
Despite lacking a Senate counterpart, the Clarity Act remains a topic of intense discussion, with multiple hearings having taken place. The hope is that it will be signed into law by the end of the year, offering the crypto industry a long-awaited roadmap. Interestingly, the US CLARITY bill could allow Tesla and Meta to evade SEC rules, according to Senator Warren, which adds another layer to the ongoing debate.
Anti-CBDC Act: A Stand Against Surveillance
The third legislative piece, the Anti-CBDC Surveillance State Act, aims to prohibit the creation of a U.S. central bank digital currency (CBDC). House Majority Whip Tom Emmer, the bill’s sponsor, expressed concerns over privacy, stating, “A government-issued CBDC, if not designed to be open, permissionless, and private, is nothing more than an Orwellian surveillance tool.”
This bill, while lacking a Senate counterpart, taps into broader fears of governmental overreach and privacy erosion. Its passage would be seen as a definitive stance against the potential centralization of digital currency by the state.
The Bigger Picture
The potential passage of these bills underscores a shifting attitude in Washington towards cryptocurrency. Since the re-election of Donald Trump and the departure of former SEC Chair Gary Gensler, political momentum has seemingly accelerated. Dowling remarked, “Washington’s attitude has changed rapidly. Keeping this momentum—labeling it ‘Crypto Week’ and integrating it into the presidential agenda—is crucial.”
Yet, the journey is far from over. While the bills promise a semblance of clarity, they are not without flaws. “The devil is in the details,” Dowling acknowledged, “but even an imperfect framework is better than the regulatory ambiguity we’ve been dealing with.”
The international race is on, with other countries advancing their digital asset regulations. As Dowling aptly put it, “Other countries are already in the race, while we’re still lacing up our shoes.” The U.S. must act decisively to remain competitive in the rapidly evolving global crypto market.
As the House prepares to vote, industry stakeholders and policymakers alike watch closely. The outcome could not only redefine the U.S. crypto landscape but also influence global regulatory standards. The stakes are high, and the world is watching.
Source
This article is based on: The Node: GENIUS, Clarity and a CBDC Ban
Further Reading
Deepen your understanding with these related articles:
- Coinbase crypto lobby urges Congress to back major crypto bill
- Australia to test CBDCs, stablecoins in next stage of crypto play
- Shenzhen issues warning on stablecoin scams, illegal crypto fundraising
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
