Crypto Week USA Style - 3 Bills Passed

Last week was a major milestone week for Crypto here in the USA. Not one, not two but three major hitting legislations were passed.  Which one is your favorite? I have seen lots of blogs already written about this topic, so after several rewritings I just ended up with summary style approach!

1. GENIUS Act (Senate – Stablecoin Regulation)

Purpose: Establishes a clear regulatory framework for U.S. dollar-backed stablecoins to promote industry growth.

Keys:

• Allows banks and non-banks to issue stablecoins under federal/state oversight.
• Enforces 1:1 reserve backing, BSA/AML compliance, and consumer protections.
• Excludes stablecoins from securities classification.
• Limits activities for non-bank issuers and restricts issuance by Big Tech.
• Preempts state licensing for federally chartered issuers.
• Prohibits interest payments to holders and use of misleading terms like “USG."

Status: Passed Senate; President Trump scheduled to sign it into law (July 18).

2. CLARITY Act (House – Digital Asset Market Structure)

Purpose: Defines digital assets and clarifies rules for exchanges and intermediaries.

Provisions:

• Authorizes banks to trade/custody digital commodities.
• Blocks SEC-style rules like SAB 121 (on-balance sheet custody).
• Delegates detailed rulemaking to SEC/CFTC.
• Enables direct exchange access and faster product approvals.
• Focuses regulation on retail-facing intermediaries.
• Promotes portfolio margining and capital netting across asset types.

Status: Passed House with bipartisan support; heads to Senate for review, where separate legislation is under development.

3. Anti-CBDC Surveillance State Act (House – Central Bank Digital Currency Ban)

Purpose: Blocks the Federal Reserve from issuing a retail Central Bank Digital Currency (CBDC).

Points:

• Faces tough prospects in the Senate due to Democratic opposition.
• Passed House along mostly partisan lines.
• Seen as protecting privacy and financial freedom.

Additionally,

last week the US Treasury Department and IRS removed controversial 'crypto broker' tax rule requiring non-custodial service providers to file customer transaction info!

Summary

All in all, lots of political capital was spent to ensure Crypto will be a force for growth in the USA for the foreseeable future! Did you pick a favorite that you were thankful it was passed?

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