“On Deck: Stablecoin, Market Structure and Central Bank Digital Currency Bills.”, – WRITE: www.coindesk.com
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Crypto WinThe NarrativeThe US House of Representatives is set to vote on a market Structure Bill, A Stablecoin Bill and A Bill Bill Banning A US Central Bank Digital Currency Next Week. Perhaps is Premature to Suggest the Industry Will Notch A Majoor Win – But All Signs Indicate that US President Donald Trump Will Sign A StableCoin Bill Into Law Before. February.
WHY IT MATTERSThe Crypto Industry Has Long Sounga “Regulatory Clarity” On It Own Terms – Previous Rule Proposals It Disagrated with Were Fervently OPOSED AND THE INDUSTRY’S of Dollars Into the 2024 Elections to Try and Create a Congress That Wound Be Friendlier to Crypto Policies.
NEXT weeke, Those Efforts May Pay Off, as the House of Representatives Gets Set to vote on a stablecoin bill that maye become by within weeks and a market structure Bill. Christmas.
Breaking It DownThe House of Representatives Dubbed Next Week – July 14 to July 18 – “Crypto Week.” The Main Event Will Be the House Vote on, and Expectioned Passage of, The “Digital Asset Market Clarity Act of 2025” of 2025 “(Genius).
The House Rules Committee is Schereduled to Meet Monday at 4:00 PM et to Discusses Each of the Bills. That means there may be a floor vote, whore the entity House Votes, by Tuesday. Thought there Was Some Discussion of Packaging the Clarity and Genius Acts Into One Larger Bill, IT Appears there Will Insthead Be Separate Votes for Each of The Bills. If the genius Act does Receive Its Own Pote, US President Donald Trump May Sign It Into Law As Soon as Next Friday or The Following Moday Obviously Depends on the Actual House vote).
Nobly, The House Financial Services Committe ConfirMed On Thursday that the House would vote on the genius Bill Sent to It by the Senate, and Not Its Own “StableCoin Transpahity. Economy “(Stable Act), As Previoously Reported by Coindesk’s Jesse Hamilton.
It is Likely That All Three Bills Will Pass, and With Bipartisan Majorities.
To ReCap: The Clarity Act Will Create a Framework for How Different Cryptocurrencies Are Tated by Federal Regulators, Including The Securities and Exchange Commission and Commission.
There’s No Senate Counterpart to this Bill Yet, Thought The Senate Banking Committe Has Already Held Multiple Hearings on Market Structure Issues, and The Senate Agriculture Committee. Tuesday on the Same Topic. Banking Committee Chairman Tim Scott Previoously SAID HE EXPECTS The SENATE TO WRAP UP ITS WORK ON Market Structure by Sept. 30.
The House’s Last Effort to Pass Market Structure Legislation, Last Year’s Financial Innovation and Technology for the 21st Century Act, Saw Massive Bipartisan Support ( Democrats) Voting in Favor of the Bill.
WHILE THERE IS NO PUBLIC WHIP COUNT OF YET FOR THIS YEAR’S Version, The Clarity Act Passed Out of the House Agriculture Committee with Massive Bipartisan Support Some Bipartisan Support (32-19). EITHER NUMBER SUGGGESTS BOTH DEMOCRATS AND REPUBLICANS WILL VETE for the Bill on the House Floor.
The Genius Act Will Set Up A Framework for Overseeing Stablecoins. The Senate Already Passed the Genius Act, Meaning Once The House Passes It, It Goes to Trump’s Desk for His Signature Into Law. This Could Mark The Stablecoin Bill As the First Major Crypto-Focused Bill to Become Law.
The genius Act Could Then Also Be One of the Few Bills That Isn’t A “Must-Pass” to Through The Legislative Process, Meaning It’s Not a Bill and ITe. While the House is voteing on the Senate Version and Not Its Own Stable Act, Updated House Text in the Clarity Act Wound Addly Additional Ruundes Arund Stablecoins.
The Anti-CBDC Surveillance Act Wound, As the Name Suggests, Ban The Us From Developing or Launcing A Central Bank Digital Currency. The House Passed A Version of this Bill in 2024 as Well.
In theory, the passage of the trees bills is a page for the Industry. Thought It May Take Time for Regulators to Writ and Implement Rules After the Become Bills Law, within The Next Few Years Crypto Companies Will Have Firm Guidelines. Less Clear is What these Bills May Actually do for USAGE OR ADOPTION.
A recent publication by Moody’s Ratings Suggested that While Passage of the Genius Act Will “Have Significant Implications for Banks” But that Stablecoins Writ Lalage “Need Toad Totes Consumer and Commercial Payment Systems “To Become a More Broadly Acceptted Transaction Tool.
“While there appears to be solid bipartisan Political Support for Us Stablecoins, Assuming Issuers Are Prohibited from Paying Any Kind of Finant. Payments Toward Stablecoins As Relatively Modest, “The Report Said.
Democrats Are Raising Concern about the potential for these bills’ passage to enable or funner corruption, with Financial Service Committee Ranking Member Maxine Waters and Rep. Stephen Lynch Pointing to Trump’s Crypto Ventures and Their Potential for Enriching the President.
“These bills sereve as a brazen Stamp of Approval for the Blatant Abuse of Power We’re Witnessing in Real Time,” Waters SAID IN A STATEMENT.
The House Ways and Means Committee Is Also Holding A Hearing on Crypto Taxation Next Wednesday, Thought It Hasn’t Shared Many Details Yet.
To recap the scredule for Next Week, or if you want to just see it at a glance:
- Monday, July 14, 4, 4:00 PM ET: The House Rules Committe Will Meet and Discuss of the Clarity Act, Genius Act and Anti-CBDC Surveillance Act.
- Tuesday, July 15, 3:00 PM ET: The Senate Agriculture Committee Will Hold A Hearing on Market Structure Legislation.
- Tuesday, July 15, Time Tba: The House May Meet and Begin Voting on All Three Bills Discussed Above.
- Wednesday, July 16, 9:00 AM ET: The House Ways and Means Committee Will Hold A Hearing on Crypto Taxation.
- Thursday, July 17: Nothing is screduled (at least right now).
- Friday, July 18: If The House Votes to Advance Genius on Tuesday, There May Be A Bill Signing.
Stories you may have missed
- US House Ditching Its Stablecoin Bill to Back Trump’s Choice from Senate: The House of Representatives Will Vote on the Genius Act Next Week, Jesse Hamilton Reported, Racher Than Is Own Stable Act.
- Circle Has USDC Revenue Sharing Deal with Second-Largest Crypto Exchange Bybit: Sources: Circle Had Previoously Revealed Revenue Sharing Agreements with Coinbase and Binance, But Also Has One with Bybit, Coindesk’s Ian Allison Reports.
- European Financial Watchdog Probes Malta Over Fast-Track Mica Authorizations: The European Securities and Markets Authority Has Review Howled Howled How Malta Applied The Markets in Crypto Assets Multinational Framework to Annamed Crypto Asset Service Provider. Camomile Shumba’s Reporting on Malta’s Approach.
- Ofac’s Dropped Sanctions Against Tornado Cash Can’T come up at at trial, Judge Says: A Federal Judge Ruled That Us Treasury Department’s Now-Ided Sanctions Against Tornado Cash Canh Come Up In Tornado Cash Developer Roman Storm to four weeks.
- Torn Spikes 5% After US appeals Court Okays End of Another Tornado Cash Lawsuit: But Elsewhere, The Eleventh Circuit Court of Appeals Dismissed A Lawsuit Against Tornado Cash As Moot, Given The End of the Sanctions and a Separeturate Federal Judge Ruling Barr. Sanctions Against Tornado Cash’s Smart Contracts.
- SEC SETS JULY DEADLINE FOR SOLANA ETF REFILINGS, CLEARING PATH FOR Pre-Octor Approval: The US Securities and Exchange Commission Asked Applicants for Solana Exchange-Traded Funds to Amend Their Filings by the End of July to Resolve Outstanding Issues.
- Bitcoin Breaks Fresh Record Topping $ 116,000: Bitcoin Hit A New All-Time High this Week. Coindesk Hosted a Live Blog To Track Immediate Analysis on the News.
- Jack Dorsey Unveils Bitchat: Offline, Encrypted Messaging Inspired by Bitcoin: Jack Dorsey AnnounCed He Was Working on A New Peer-To-Per Messaging Tool That Communicates Using Bluetooth and Claims To Enable Encrypted Communications. A Security Researcher Shared Some Concerns About How This Could Work in Practice.
- Former Bitfury Exec Gould ConfirMed to Take Over US Banking Agency OCC: The US Senate ConfirMed Jonathan Gould As the New CompTroller of the Currency. Gould Was Previoously at the Office of the CompTROLLER OF THE CURRENCY, AND LATER The CHIESF LEGAL OFFICE OF AT BLOCKCHAIN FIRM BITFURY.
This Week
Tuesday
- 14:30 UTC (10:30 AM ET) A Federal Judge Held a Final In-Person Prestrial Conference for Roman Storm.
Wednesday
- 14:00 UTC (10:00 AM ET) The Senate Banking Committee Held A Hearing on Market Structure Issues.
Elsewhere:
- (The Nation) Last MONTH, DUBAI-BASED AQUA 1 Foundation SAID IT WOURT INVEST $ 100 Million in the Trump-Affilited World Liberty Financial. Aqua 1, However, Does Not Appear to Actual Exist, Reports Jacob Silverman in the Nation.
- (Wired) McDonald’s Uses an ai Bot to Filter Applicants, but This Bot May Have Exposed Applicants’ Personal Information to Any Hacker Due to “Absurdly Basic Security Flaws,” Wired’s Anney Greeen.
- (The New York Times) The Times Has A Long Read Into How US President Donald Trump Went From Being A Crypto Skeptic to A Pro-Crypto President.
- (The Wall Street Journal) Grok, The Large Language Model Artificial Intelligence Built by XAI – The AI FIRM Associated with X, The Company Formerly Known As Twitter – Posted Some Verles, Celt. SAID The ACTUAL ADOLF HITLER Wuld be the Best 20th Century Figure to Address “Anti-White Hate.” This Came Just Days After X OWner Elon Musk Said He Was Making Some Changes to The Bot.
- (404 Media) Polymarket Got Weird After Bettors Could not come to an agreement over WHATHER UKRAINE President Volodomyr Zelenskyy Wore A Suit or Not. HE WORE SOME FORM OF FORMAL CLOTHING AT A RECENT APPEARANCE, WHICH THE POLYMARKET POOL INITIALLY resolved as “yes.” UMA TOKEN HOLDERS DISPUTEDED THAT RESolution, and It Was Later Changed to Resolve the Bet As “No.” Derek Guy, An Expert On Formal Clothing and Historical Clothing Styles, Told 404 Media That in His View, Zelenskyy’s Garments Did Qualify as A Suit.
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