In a recent statement, the US House of Representatives said that they are taking a “historic step to ensure the US remains the crypto capital of the world.”
(Source: X)
Big Statement from US House Ahead of Crypto Week
The statement comes just before Crypto Week (July 14-July 18) when Congress will debate three major bills shaping the future of US crypto regulation. This includes:
- CLARITY Act
- Anti-CBDC Surveillance State Act
- GENIUS Act
Among these three crucial acts, the GENIUS Act has already been cleared by the US Senate on June 17, which is intended to establish a regulatory framework for USD-backed stablecoin.
After notching a landmark victory last year in the presidential race, US President Donald Trump is putting rigorous legislative efforts to establish a clear regulatory framework for digital assets. By doing this, the pro-crypto administration wants to make America a crypto hub and attract innovation.
Chairman Hill said, “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. After years of dedicated work in Congress on digital assets, we are advancing landmark legislation to establish a clear regulatory framework for digital assets that safeguards consumers and investors, provides rules for the issuance and operation of dollar-backed payment stablecoins, and permanently blocks the creation of a Central Bank Digital Currency (CBDC) to safeguard Americans’ financial privacy.
“I thank my colleagues in Congress and the Trump Administration for their partnership and leadership, and stand ready to work alongside the Senate as they work to advance standalone market structure legislation by the end of September,” he added further.
During his second tenure, the US President made a major decision in favor of the cryptocurrency community. For instance, he signed an executive order to establish the Strategic Bitcoin Reserve (SBR) by leveraging 200,000 Bitcoins seized by federal agencies.
Under the light of clear regulatory guidelines, the US government wants to create a crypto-friendly environment to help innovation and businesses expand their offerings.
Senator Cynthia Lummis (R-WY) said, “For the first time in U.S. history, we have a president who sees the value in embracing digital assets, and already we are working to capitalize on that. In Wyoming, we have worked for nearly a decade to embrace digital assets, and it is exciting to see the federal government beginning to follow in Cowboy State’s footsteps.
She said, “Together, we are going to maintain America’s competitive edge and ensure the United States remains the global leader in financial technology while preserving the principles that make our economy the strongest in the world.”
Also Read: HTX Lists Trump-Linked USD1 Stablecoin on Tron Network
