It's Crypto Week: These are the key dates to watch

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It’s officially “Crypto Week,” a multi-day lawsuit wherever leaders successful the US House of Representatives anticipation to ballot connected 3 cryptocurrency bills expected to bolster the nationalist crypto industry.

The CLARITY Act, the GENIUS Act and the Anti-CBDC Surveillance State Act are expected to spell done debate, amendments and a last ballot implicit the coming days.

“Crypto Week” was announced by French Hill, seat of the House Committee connected Financial Services, connected July 3. Hill said the authorities would found “a wide regulatory model for integer assets,” arsenic good arsenic acceptable the crushed rules for dollar-pegged stablecoin issuance, and aims to artifact cardinal slope integer currency (CBDC) issuance “to safeguard Americans’ fiscal privacy.”

While “Crypto Week” has garnered overmuch anticipation among Republicans successful the House, Democratic leaders are actively campaigning against what they telephone “dangerous legislation.”

Here are the cardinal dates to look retired for.

Key dates and milestones during “Crypto Week”

On Monday, the House Rules Committee will meet to sermon each 3 bills. It volition acceptable the special rules that “provides the presumption and conditions of debate.” On Tuesday, the House volition statesman discussing the bills, and the ballot tin commencement aft the statement ends.

Final transition votes connected the Clarity Act and the Anti-CBDC Surveillance State Act are scheduled for Thursday. The GENIUS Act’s last transition ballot is expected connected Friday.

The Digital Asset Market Clarity Act (CLARITY Act)

The Digital Asset Market Clarity (CLARITY) Act was introduced at the extremity of June and aims to supply a regulatory model for the crypto industry. This includes defining the roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) successful their regulation.

The measure besides aims to “provide an exemption from the Securities Act of 1933's registration request for offers of concern contracts involving integer commodities connected mature blockchains that conscionable definite conditions.”

But not everyone is connected board. Earlier this month, Massachusetts Senator Elizabeth Warren said that nether those rules, publically traded companies could fundamentally bypass US securities laws.

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

The Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) was introduced successful February, little than 2 weeks aft President Donald Trump took his office. The measure passed the Senate connected June 17.

The GENIUS Act sets rules for the benignant of entities that whitethorn contented stablecoins. It establishes that “issuers indispensable support reserves backing the stablecoin connected a one-to-one basis” successful US dollars oregon different likewise liquid assets. It besides extends the Bank Secrecy Act to stablecoin issuers.

Some economical and ineligible observers person noted that the backing clause of the GENIUS Act could airs a systemic risk to the US monetary system.

Anti-CBDC Surveillance State Act

The Anti-CBDC Surveillance State Act was introduced successful aboriginal March and seeks to forestall the Federal Reserve, the US’s cardinal bank, from issuing a CBDC. The Federal Reserve would besides beryllium prohibited from utilizing a CBDC to power monetary policy, and guarantee that solely Congress tin contented a integer dollar.

At the extremity of April, the House Financial Services Committee advanced the Anti-CBDC Surveillance State Act successful a 27-22 vote. Representative Brad Sherman described the measure arsenic a “word salad” that favored “crypto bros.”

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