‘Crypto Week’ will make the United States a ‘leader in financial technology and crypto and digital assets innovation,’ says Rep. French Hill.
Bitcoin prices reached an all-time high of $120,000 as the United States kicked off “crypto week.”
Washington will be voting on a trio of bills that could implement legislative changes for the cryptocurrency industry, potentially fulfilling President Donald Trump’s campaign promise of instating digital asset-friendly regulatory frameworks.
“We are taking historic steps to ensure the United States remains the world’s leader in innovation, and I look forward to ‘Crypto Week’ in the House,” House Financial Services Committee Chair French Hill said in a recent statement.
Here are the three bills that lawmakers will vote on during Crypto Week—July 14 to July 18—impacting how consumers invest in digital assets and further legitimizing the cryptocurrency industry.
Feeling Smart About ‘Genius Act’
In June, the Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, commonly known as the Genius Act, in a 68–30 vote.
After clearing the upper chamber, the bill heads to the House for a straight-up vote.
If approved, it will travel to the president’s desk for his signature.
Trump says he will sign the legislation after urging lawmakers in both chambers to approve the Genius Act without amendments.
The legislation is pivotal for the $200 billion stablecoin market as it puts together rules and regulations for who can issue the crypto assets and how they manage them.
Stablecoins are haven assets in a volatile sector, designed to be pegged to the U.S. dollar and Treasury securities.
Investors rely on these instruments during times of turmoil in the crypto market, and many financial market participants use stablecoins instead of cash for quicker settlements at a lower expense.
Proponents, including Treasury Secretary Scott Bessent, also say it will bolster demand for U.S. Treasury bonds.
“This newfound demand could lower government borrowing costs and help rein in the national debt. It could also onramp millions of new users—across the globe—to the dollar-based digital asset economy,” Bessent said on X before the Senate vote.
Recent reporting projects that stablecoins could grow into a $3.7 trillion market by the end of the decade. That scenario becomes more likely with passage of the GENIUS Act.
— Treasury Secretary Scott Bessent (@SecScottBessent) June 17, 2025
A thriving stablecoin ecosystem will drive demand from the private sector for US Treasuries, which back…
By Andrew Moran
