Top Democrats have branded the week “Anti‑Crypto Corruption Week” and are pushing to block all three bills. (Shutterstock)This week, the U.S. House of Representatives has kicked off “Crypto Week”, a high-stakes legislative sprint featuring three major cryptocurrency bills. The agenda includes:
Championed by House Republicans and backed by President Donald Trump, this push signals a sustained effort to entrench the U.S. as a global crypto leader. Speaker Mike Johnson and Chairmen French Hill and GT Thompson have emphasized the need for rapid action during the July 14–18 legislative window.
Supporters argue that the GENIUS Act will unleash stablecoin adoption among consumers and businesses by requiring issuer registration, reserve maintenance, and transparent disclosure, minimizing regulatory friction while safeguarding users.
The CLARITY Act seeks to delineate authority between the SEC and CFTC, granting the CFTC exclusive jurisdiction over spot-market crypto trading, while enforcing record-keeping, disclosures, and anti-trust rules on exchanges.
The CBDC Anti-Surveillance State Act reflects a conservative belief that a digital dollar could erode financial privacy and grant excessive government surveillance over citizens.
Top Democrats, led by Rep. Maxine Waters (D‑CA) and Rep. Stephen Lynch (D‑MA), have branded the week “Anti‑Crypto Corruption Week”, launching a campaign to block all three bills.
They argue that the GENIUS Act lacks essential conflict-of-interest protections, notably excluding the president from hold restrictions, creating potential loopholes that could benefit President Trump’s crypto ventures, including the Trump memecoin and World Liberty Financial’s USD1 stablecoin.
In May, Senate Democrats derailed a procedural vote on the GENIUS Act, forcing renewed debate on safeguarding laws. Sen. Elizabeth Warren and others warned that failure to include presidential oversight provisions undermines anti-corruption goals.
Furthermore, House Democrats disrupted a May hearing focusing on market structure, accusing Republicans of ignoring Trump's crypto profit-taking, leading to a partisan split and alternative “roundtable” proceedings.
Despite pressure, party leadership has stopped short of enforcing a full caucus defection, leaving individual members to weigh innovation against risks.
The confrontation underscores growing friction within the Democratic Party: progressives and anti-corruption advocates are wary of crypto’s regulatory trajectory; others worry abandoning tech could hurt electoral appeal. Many Democrats who initially supported crypto legislation have backtracked amid Trump-related conflict concerns.
The House is expected to vote on all three bills by Friday. If passed, the GENIUS Act would head to President Trump’s desk, as it mirrors the Senate’s version cleared in June. The CLARITY and Anti-CBDC bills would then move to the Senate, where further scrutiny awaits.
Even if enacted, Democrats caution that the absence of stricter anti-corruption and consumer protections loosen the regulatory climate rampantly.
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