US House of Representatives Declares Mid-July as "Crypto Week" to Review Multiple Cryptocurrency Bills

According to a report by Jinse Finance, the U.S. House leadership announced on Thursday that the week of July 14 will be designated as "Crypto Week," during which three major cryptocurrency bills will be reviewed: the GENIUS Stablecoin Act, the Digital Asset Market Structure Clarity Act, and a bill concerning Central Bank Digital Currencies (CBDC). The GENIUS Act requires stablecoins to be fully backed by U.S. dollars or highly liquid assets and mandates annual audits for large issuers. The Digital Asset Market Structure Clarity Act aims to clarify the regulatory responsibilities of the SEC and CFTC, while also requiring digital asset companies to provide retail financial disclosures and segregate company and client funds. House Speaker Mike Johnson stated that these initiatives are "decisive steps toward advancing President Trump's digital asset and cryptocurrency agenda." Previously, Trump requested that the stablecoin bill be delivered to his desk before August, and the scheduling of "Crypto Week" is expected to help lawmakers meet this deadline.