cryptocurrency, Trump and House of Representatives
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To be sure, the road to the passage of the three bills was not smooth, since 12 hardliners scuttled a procedural vote on the GENIUS Act on Tuesday, prompting House Speaker Mike Johnson to halt the process.
The House is considering three bills that would regulate digital currencies. The first, the GENIUS Act, is expected to quickly pass and head to President Donald Trump's desk by Friday.
The GENUIS Act, a stablecoin bill, has already passed the Senate and looks set to become the first standalone crypto measure signed into law. The market structure package called the CLARITY Act could be held up as Democrats have concerns about President Trump's growing crypto empire.
President Donald Trump wished everyone a "Happy Crypto Week" on Truth Social on July 15. The House will soon vote on the GENIUS bill to make America the "UNDISPUTED, NUMBER ONE LEADER" in crypto assets. BTC Volatility Hit Historic Lows as ETF Inflows Transformed Market Dynamics: Bybit & Block Scholes Monthly Report
The crypto super PACs, though, have signaled that the vote breakdown on the broader bill, led by House Financial Services Chair French Hill (R-Ark.), will be their primary consideration as they weigh how to deploy their 2026 haul. The group spent more than $30 million benefiting House Democrats during the last campaign.
The crypto industry will take a step closer to going mainstream this week as a series of industry-friendly bills progress through Congress, paving the way for digital assets to potentially be further integrated into traditional finance.
Crypto week kicks off on Capitol Hill, with lawmakers set to debate a handful of bills that sources say could have a big impact on the market.
Last week, the Senate appropriations process took an unexpected turn on another spending bill when Sen. Lisa Murkowski, R-Alaska, joined Democrats to back an amendment from Maryland Sen. Chris Van Hollen regarding the future of the FBI headquarters building.