Crypto Chaos: What’s Coming This Week?

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Well, folks, it’s officially “Crypto Week” in the US House of Representatives 🤯. Because, you know, the country didn’t have enough to deal with already. Over the next few days, our esteemed leaders will be voting on not one, not two, but three cryptocurrency bills that could potentially shake up the national crypto industry 💸.

The CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act are all on the docket, and we can expect a thrilling spectacle of debate, amendments, and (if we’re lucky) some good old-fashioned politicking 🎪.

French Hill, chair of the House Committee on Financial Services, announced “Crypto Week” with great fanfare on July 3, promising that the legislation would bring “a clear regulatory framework for digital assets” 📈. Because, you see, the current framework is about as clear as a muddy swamp 🌿.

But not everyone is on board with this crypto extravaganza 🎉. Democratic leaders are actively campaigning against what they call “dangerous legislation” 🚨. So, it’s shaping up to be a real showdown in the Wild West of crypto 🤠.

Here are the key dates to keep an eye on:

Key dates and milestones during “Crypto Week”

On Monday, the House Rules Committee will meet to discuss all three bills 📝. They’ll set the special rules that will govern the debate, because even Congress needs some rules to follow 🤣. On Tuesday, the House will start discussing the bills, and the vote can start after the debate ends 🗳️.

Final passage votes on the Clarity Act and the Anti-CBDC Surveillance State Act are scheduled for Thursday 📆. The GENIUS Act’s final passage vote is expected on Friday 🤞.

The Digital Asset Market Clarity Act (CLARITY Act)

The CLARITY Act aims to provide a regulatory framework for the crypto industry 📊. Because, you know, the current framework is a bit of a mess 🤯. The bill defines the roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in regulating crypto, which is a good start 📈.

But some folks, like Massachusetts Senator Elizabeth Warren, are worried that the bill could let publicly traded companies bypass US securities laws 🚨. Which, let’s be real, is not exactly what we want to happen 😳.

The Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act)

The GENIUS Act sets rules for stablecoin issuers 📝. They’ll have to maintain reserves backing the stablecoin on a one-to-one basis in US dollars or other liquid assets 💸. Sounds simple enough, right? 🤔

But some experts are worried that the backing clause could pose a systemic risk to the US monetary system 🚨. Which, again, is not exactly what we want to happen 😳.

Anti-CBDC Surveillance State Act

The Anti-CBDC Surveillance State Act aims to prevent the Federal Reserve from issuing a central bank digital currency (CBDC) 🚫. Because, you know, we don’t want the government tracking our every move 🕵️‍♀️.

Representative Brad Sherman called the bill a “word salad” that favors “crypto bros” 🤣. Which, let’s be real, is a pretty accurate description 😂.

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2025-07-14 18:09