The House Committee on Financial Services Chairman French Hill (AR-02) and House Committee on Agriculture Chairman GT Thompson (PA-15), along with House Leadership, have officially announced that the week of July 14th will be dedicated to ‘Crypto Week.’
During this pivotal week, the House will focus on reviewing several key pieces of legislation aimed at solidifying the United States as a leader in the cryptocurrency space, including the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act.
Chairman Hill expressed optimism about this significant initiative, stating, “We are taking historic steps to ensure the United States remains the world’s leader in innovation. 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. This framework provides rules for the issuance and operation of dollar-backed payment stablecoins, while also permanently blocking the creation of a Central Bank Digital Currency (CBDC) to safeguard Americans’ financial privacy.”
He extended his gratitude to his colleagues in Congress as well as the Trump Administration for their collaboration and leadership. Hill is eager to work alongside the Senate to progress standalone market structure legislation by the end of September.
Speaker Mike Johnson (LA-04) highlighted the importance of this initiative, stating, “House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda. During ‘Crypto Week,’ the House looks forward to the timely consideration of three landmark pieces of legislation… I commend the close partnership between the Financial Services and Agriculture Committees and the leadership of Chairmen French Hill and GT Thompson, and I look forward to President Trump signing them into law.”
Majority Leader Steve Scalise (LA-01) echoed these sentiments, saying, “As part of our work to deliver on President Trump’s promise to make the United States the world leader in digital assets, House Republicans will bring the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act to the floor for ‘Crypto Week.’ These pieces of legislation further the President’s pro-growth and pro-business agenda, and provide a clear regulatory framework for digital assets.”
Majority Whip Tom Emmer (MN-06) added, “This is a historic opportunity for the United States. After years of work, American innovators are one step closer to having the clarity they need to build here at home while ensuring the future of the digital economy reflects our values of privacy, individual sovereignty, and free-market competitiveness. By sending these three pieces of legislation to President Trump’s desk, we will protect Americans’ right to financial privacy and deliver on our promise to make the United States the crypto capital of the world. A new day for American excellence has finally arrived, and now it’s time to get the job done.”
Chairman Thompson expressed appreciation for the House’s forthcoming vote on the CLARITY Act. He stated, “Digital asset market structure legislation is long overdue. During many hearings and roundtable discussions, we have heard from countless innovators, creators, professors, and constituents. Time and again, we have heard the calls for regulatory clarity and certainty in this ecosystem. The House Agriculture and Financial Services Committees worked together to deliver CLARITY, and it will soon be time for the House to deliver for the American people and send CLARITY to the Senate.”
Thompson extended his gratitude to House Leadership for acknowledging the urgent need for clarity to secure American leadership in the digital asset market.
Chairman Tim Scott (R-SC) emphasized the historic nature of this legislative push, noting, “The House’s action marks a historic milestone in our efforts to deliver a clear, pro-innovation framework for digital assets. I commend my colleagues in the House for advancing stablecoin legislation, and I look forward to seeing GENIUS enacted into law. Under President Trump’s leadership, we have a real opportunity to cement American dominance in digital asset innovation while protecting consumers and preserving financial freedom.”
Senator John Boozman (R-AR) expressed support for advancing digital asset market structure, stating, “I’m very pleased to see the House continue to advance its approach to a clear market structure for digital assets. I look forward to continued work on this important objective with Chairs Hill and Thompson and my colleagues here in the Senate.”
Senator Bill Hagerty (R-TN) remarked on the importance of the upcoming legislative milestones, asserting, “2025 is set to be a pivotal year for digital asset legislation, and next week marks a pivotal milestone in this agenda. I commend Chairman Hill, Chairman Steil, and the rest of my colleagues in the House for moving at pace next week to pass these three critical bills. These pieces of legislation are vital to ensuring America is at the forefront of innovation in the digital asset space. I look forward to enacting the GENIUS Act into law and to working with my colleagues to move the CLARITY Act through the Senate in short order.”
Senator Cynthia Lummis (R-WY) celebrated the unique opportunity presented by President Trump’s administration, stating, “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 the Cowboy State’s footsteps. As we celebrate Crypto Week, I am thrilled to partner with Chairman Hill and Chairman Thompson to pass comprehensive stablecoin legislation, establish clear market structure rules, and ensure that any central bank digital currency respects Americans’ privacy and financial freedom. 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.”
Rep. Bryan Steil (WI-01) optimistically stated, “The golden age of digital assets is here, and the U.S. will lead. Passing stablecoin and market structure legislation, alongside a CBDC ban, will ensure the U.S. wins the Web3 race. This package encourages the innovation and development of Web3 businesses here in the United States, protects consumers from fraud, and allows us to outcompete our adversaries, ensuring America dominates the future of blockchain technology.”
Rep. Dusty Johnson (SD-AL) emphasized the transformative potential of digital assets, asserting, “Digital assets will soon transform every industry, and the time is now to bring commonsense regulation to blockchain technology to allow that innovation to grow and thrive. I look forward to ‘Crypto Week’ to pass the CLARITY Act and the Senate’s GENIUS Act, and to prevent a central bank digital currency so America can be the leader in digital asset development. I’m grateful for the hard work and partnership of Whip Emmer, Chairmen Hill, Thompson, and Steil in the House and Senators Bill Hagerty, Tim Scott, Kirsten Gillibrand, and Cynthia Lummis on digital asset legislation.”
Background information on the legislative developments shows that on June 11, 2025, Chairmen Hill and Thompson, alongside Majority Whip Emmer, published an op-ed in CoinDesk emphasizing their commitment to enacting comprehensive digital asset legislation during the 119th Congress.
On June 10, 2025, the Financial Services Committee reported the CLARITY Act by a bipartisan vote of 32-19 to the full House of Representatives for consideration, while the House Agriculture Committee reported it by an overwhelming bipartisan vote of 47-6.
The collaborative efforts continued on May 6, 2025, when the House Committees on Financial Services and Agriculture convened a public joint roundtable discussion on key concepts and principles for digital asset market structure legislation.
On May 5, 2025, the leaders released a digital asset market structure discussion draft aimed at establishing a regulatory framework for digital assets within the United States.
Earlier in the year, on April 2, 2025, the Financial Services Committee reported Subcommittee Chairman Steil’s STABLE Act and Majority Whip Emmer’s Anti-CBDC Surveillance State Act for consideration by the full House.
This momentum began with the first digital asset market structure hearing held on April 9, 2025. On February 19, Chairmen Hill and Steil published an op-ed addressing the critical need for Congressional action regarding digital asset market structure and payment stablecoins.
Throughout early 2025, a series of discussions and hearings laid the groundwork for this legislative push, including a press conference on February 4, where a bicameral working group focused on digital asset legislation was announced.
This current effort builds on previous work by the 118th House of Representatives, where comprehensive digital asset market structure legislation was passed for the first time in history, known as the Financial Innovation and Technology for the 21st Century Act (FIT21), which garnered overwhelming bipartisan support.
As the House gears up for ‘Crypto Week,’ it sets the stage for crucial legislative advancements that could reshape the future of digital assets in America.
image source from：financialservices
