Key Legislative Votes and Crypto Developments This Week

Updates on three significant U.S. crypto bills reveal ongoing regulatory efforts, with the GENIUS Act poised for a final vote, while the CLARITY Act and Anti-CBDC Surveillance Act remain in discussion.

Summary

On July 17, updates were provided on three major U.S. crypto-related bills: the GENIUS Act, aimed at regulating stablecoins, is set for a final vote on July 18; the CLARITY Act, which seeks to clarify digital asset classification, is still in debate; and the Anti-CBDC Surveillance Act, aiming to prohibit the creation of a CBDC, has yet to pass but will include anti-CBDC provisions in the defense authorization bill.

Terms & Concepts
  • GENIUS Act: A legislative proposal focused on establishing a regulatory framework for dollar-backed stablecoins.
  • CLARITY Act: Proposed legislation aimed at clarifying regulatory oversight of digital assets by dividing responsibilities between the SEC and CFTC.
  • stablecoin: A type of cryptocurrency that is pegged to a stable asset, such as the US dollar, to minimize price volatility.