The U.S. House of Representatives is poised for a pivotal moment in cryptocurrency legislation this week, with votes on crucial bills that could reshape the landscape of digital assets in America. On Wednesday, lawmakers will deliberate on the Digital Asset Market Clarity Act, a significant step toward establishing a comprehensive regulatory framework for crypto activities. This will be followed on Thursday by a vote on the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which aims to regulate stablecoin issuers. Both pieces of legislation are seen as landmark measures in the ongoing effort to bring clarity and structure to the burgeoning crypto industry.
Clarity on the Horizon
As the House gears up for the vote on the Clarity Act, anticipation is high. This bill is expected to secure strong bipartisan support, potentially exceeding the 71 Democratic votes garnered by its predecessor, the Financial Innovation and Technology for the 21st Century Act (FIT21). Crypto advocates are hopeful that this momentum will carry over to the Senate, where the bill’s fate was uncertain in previous sessions. Senator Tim Scott, the Senate Banking Committee chairman, has indicated that the Clarity Act will serve as a blueprint for the Senate’s version, though he acknowledged that some modifications may be necessary. Industry groups have been vocal in their support, as highlighted in Industry Coalition Urges House Of Representatives To Support CLARITY Act Ahead Of ‘Crypto Week’.
“The Clarity Act is not just another bill; it’s a cornerstone for how we envision the future of digital finance,” said Jessica Martinez, Senior Director of Government Relations at the Blockchain Association. “The bipartisan support reflects a growing recognition of the need for clear, consistent regulations in this space.”
Stablecoins in the Spotlight
Thursday’s vote on the GENIUS Act marks the final legislative hurdle for a bill that has already sailed through the Senate with broad bipartisan backing. Designed to establish regulatory guardrails for stablecoin issuers like Circle’s USDC and Tether’s USDT, the act is expected to provide much-needed security and oversight in this rapidly evolving sector.
Industry insiders suggest that once the GENIUS Act is signed into law, attention will shift entirely to the market structure, with the Clarity Act paving the way for a more organized crypto ecosystem. Ian Katz, a policy analyst at Capital Alpha, noted, “While the House is aligned on the need for these regulations, the Senate will likely introduce its own version, and we might not see a final resolution until well into next year.”
A Week of Consequential Decisions
Dubbed “Crypto Week,” this period is shaping up to be one of the most significant for crypto legislation in recent memory. The House Rules Committee met late into Monday night to finalize the procedural roadmap, which includes an hour of debate per bill with no amendments considered. This streamlined process underscores the urgency and importance lawmakers attach to these votes. Coinbase has also been active in lobbying efforts, as discussed in Coinbase crypto lobby urges Congress to back major crypto bill.
Adding another layer to this week’s legislative agenda is a bill aimed at banning a U.S. central bank digital currency (CBDC). Republican lawmakers have voiced concerns that a CBDC could compete with existing stablecoins and lead to increased government surveillance. While the Federal Reserve has yet to pursue a digital dollar in earnest, this bill would effectively close the door on such a possibility, at least for now.
Looking Ahead
As the House moves forward with its scheduled votes, the crypto industry watches with bated breath. The passage of these bills could herald a new era of transparency and regulation, providing a framework that both protects consumers and encourages innovation. However, as with any legislative process, the path is fraught with uncertainties. The Senate’s eventual stance, particularly on the Clarity Act, remains a wildcard.
“This week could very well set the tone for the next decade in crypto regulation,” Martinez added. “But with so many moving parts, it’s anyone’s guess how it will all play out.”
In the meantime, industry stakeholders continue to advocate for a balanced approach that addresses both innovation and security. The outcome of these votes will likely influence the direction of U.S. crypto policy for years to come, setting a precedent that other nations might follow.
As we await the results, one thing is clear: the crypto world is at a crossroads, and the decisions made this week could chart its course for the foreseeable future.
Source
This article is based on: House Gears Up for Crypto Market Structure Vote on Wednesday, Stablecoins Thursday
Further Reading
Deepen your understanding with these related articles:
- Ripple CEO, ex-US regulators to address market structure at Senate hearing
- Many see stablecoins soaring to $2T in ‘handful’ of years: Ripple CEO
- Circle Has USDC Revenue Sharing Deal With Second-Largest Crypto Exchange ByBit: Sources
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.
