Congress is gearing up for what they’re calling “Crypto Week,” starting July 14. It’s the first time an entire week has been set aside just to talk about crypto. The focus will be on three major bills that are supposed to shape how digital assets work in the U.S.
The CLARITY and GENIUS Acts are getting most of the attention, but there’s also a third bill aimed at stopping the government from creating its own digital currency. The decisions made during this week could end up having a bigger impact than most people expect.
Why this matters for everyday users
A lot of talk is going to be about how these laws affect companies and regulations, but for regular crypto users, this isn’t some distant policy thing. It could end up touching everything from how you move your money to what services are even available anymore.
Crypto has quietly become part of everyday life for a lot of people who use it for online shopping, gaming, or even gambling, with some online casinos already letting players deposit in cryptocurrency so they can take advantage of the near-instantaneous transactions these digital coins offer, whilst enjoying benefits like better bonuses and bigger game selections that are prevalent in platforms that are crypto-friendly. With new laws on the table, what’s allowed and what’s not might start shifting quickly.
The CLARITY Act could make building in crypto easier
The CLARITY Act is mostly focused on sorting out which coins and tokens should be treated like stocks and which shouldn’t. Right now, the lines are blurry, which has made it easy for regulators to crack down or launch lawsuits. The goal here is to clear that up and give crypto projects a bit more breathing room so they know what rules they’re playing under.
One thing this bill introduces is a new category for “mature blockchains,” which basically means networks that are decentralized enough and have been around long enough to not be seen as tied to a single person or company. That kind of system could give projects like Ethereum more space to grow without always worrying about being seen as securities. It would also help people build things on top of those networks since they wouldn’t automatically be treated like they’re running a financial company just for launching code.
Developers and validators might also get some relief under this bill because it removes certain legal responsibilities from people who are just keeping the network running. For years, the fear of being held liable for something you didn’t directly control has been enough to scare off innovation. So the CLARITY Act is being seen as a way to fix that before it gets worse.
GENIUS Act wants to get serious about stablecoins
The GENIUS Act takes a different angle. It’s all about stablecoins, which are a big part of how crypto is actually used. These are the coins that stay pegged to the dollar and make up most of the transaction volume across the blockchain space. The bill would require all stablecoins to be backed by actual dollars or government bonds, and it also splits regulation between state and federal levels depending on how much money a company is handling.
Some people think this makes sense because it adds structure to something that’s already playing a big role in finance. Others worry it opens the door for big tech companies to launch their own coins and start controlling the market in ways that aren’t obvious yet. There’s been a lot of debate over the details, and the bill has already gone through several rewrites, so no one’s quite sure what the final version will look like by the time it’s voted on.
A hard stance against government-run digital money
The third bill up for debate is all about blocking the creation of a government-issued digital dollar. The argument behind it is that if the government controls the digital currency, they’ll also be able to monitor every transaction people make, which raises privacy concerns. Supporters of this bill don’t want a future where personal financial decisions are visible to federal agencies by default.
This position puts the U.S. on a different track from places like China, where digital currencies issued by the central bank are already being tested. Whether that makes the U.S. more or less competitive is still up for debate, but the people behind the bill are making it clear that they see CBDCs as a threat to personal freedom, not an innovation.
All eyes are fixed on what happens next
Even though all of this is happening in Congress, it’s not going to stay there. If these bills pass, other countries are going to take notice. The U.S. has always had a big influence on how tech regulations develop, and crypto isn’t going to be any different. Some places might copy the approach, others might push back, but either way, this week is likely to shape what comes next for crypto, not just in the U.S., but globally.
