House GOP declares 'Crypto Week' for mid-July to consider the GENIUS stablecoin bill and Clarity crypto market structure legislation

Now that the U.S. House passed President Donald Trump's "big, beautiful bill" lawmakers are set to consider upcoming digital asset legislation with House leadership designating mid-July as "Crypto Week."

Speaker of the House Mike Johnson, R-La., House Financial Services Committee Chair French Hill, R-Ark., and House Agriculture Committee Chair GT Thompson said Thursday that the week of July 14 will be designated to consider a stablecoin bill, a larger crypto market structure bill, and another focused on central bank digital currencies (CBDCs).

“House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda," Johnson said in the statement . 

There had been rumblings that the House could take up their own version of a stablecoin bill, nicknamed the STABLE Act, but they seemingly now will focus on the Senate-led version named GENIUS. President Trump has said he wants a stablecoin bill on his desk by August, so taking up the Senate version, which already cleared the upper congressional chamber , could help lawmakers meet that deadline.  

The Senate bill requires stablecoins to be fully backed by U.S. dollars or similarly liquid assets, mandates annual audits for issuers with a market capitalization of more than $50 billion, and establishes guidelines for foreign issuance. The House's version has some differences compared to GENIUS, such as state pathways and treatment of foreign issuers. 

The House Financial Services Committee advanced the STABLE legislation out of its committee in May, but has not yet gone to a full House vote. 

As for a larger market structure bill, the House Financial Services and Agriculture Committees advanced legislation called the Digital Asset Market Clarity Act, or Clarity for short, last month. 

That bill would create a clear regulatory framework for crypto in part through designating how the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission will regulate. The bill also requires digital asset firms to provide retail financial disclosures and segregate corporate and customer funds.

Both the stablecoin and market structure bills have been met with criticism from Democrats, in part over Trump's involvement in crypto. Bloomberg estimates the sitting president has profited some $620 million from his family's crypto ventures, including the World Liberty Financial DeFi and stablecoin project and the TRUMP and MELANIA memecoin launches.

Last on the docket for "Crypto Week," is a bill led by Majority Whip Tom Emmer, R-Minn., to block the Federal Reserve from issuing a central bank digital currency directly to individuals. 

"By sending these three pieces of legislation to President Trump’s desk, we will protect Americans’ right to financial privacy and deliver on our promise to make the United States the crypto capital of the world," Emmer said in the statement. "A new day for American excellence has finally arrived, and now it’s time to get the job done.”