US House Rules Committee Greenlights Major Crypto Legislation

• The House Rules Committee approved three major crypto bills, and floor votes are expected Wednesday or Thursday. 

• If passed, the GENIUS Act will go directly to President Trump, while the CLARITY Act and Anti-CBDC bill will need Senate approval. 

• Rep. Hill called the current crypto regulatory system “broken” and warned America risks falling behind global markets.

The U.S. House of Representatives moved three significant cryptocurrency bills closer to final passage during the second day of crypto week. The CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act cleared the House Rules Committee on July 14, positioning them for floor votes as early as Wednesday or Thursday.

Majority Leader Steve Scalise’s schedule confirms a procedural vote occurred on July 15, with Rep. Eleanor Terrett confirming the timeline on X. The legislative push represents a pivotal moment for digital asset regulation in the United States.

The three bills address different aspects of cryptocurrency oversight. The CLARITY Act aims to establish clear regulatory frameworks for digital assets. The GENIUS Act focuses on stablecoin regulation and innovation. The Anti-CBDC Surveillance State Act seeks to prevent the Federal Reserve from issuing retail central bank digital currencies without Congressional approval.

House Rules Committee Advances Crypto Legislation

All three bills successfully passed through the House Rules Committee during hearings on July 14. The committee’s approval sets the stage for full House consideration during crypto week.

Rep. French Hill emphasized the urgent need for comprehensive digital asset reform during the Rules Committee hearing. Hill described the current regulatory environment as “broken” and warned that America risks falling behind global markets without immediate action.

The Financial Services Committee shared video footage of Hill’s remarks on X, highlighting the bipartisan nature of the legislative effort. Hill stressed that the bills build on years of collaborative work between lawmakers, regulators, and market participants.

GENIUS Act Heads to President’s Desk, Senate Awaits Other Bills

If the House approves the GENIUS Act during crypto week, the legislation will proceed directly to President Trump’s desk for signature. The bill addresses stablecoin regulation and provides legal certainty for cryptocurrency innovation.

The CLARITY Act and the Anti-CBDC bill will require Senate approval before reaching the President. Both pieces of legislation tackle different regulatory challenges facing the cryptocurrency industry.

Hill argued that the Anti-CBDC Surveillance State Act prevents government overreach in digital currency development. The bill requires Congressional authorization before the Federal Reserve can issue retail central bank digital currencies.

The legislator stated that such requirements protect Americans’ financial privacy and prevent excessive government control over personal transactions. The debate reflects broader concerns about digital currency surveillance capabilities.

Hill also supported the GENIUS Act’s approach to stablecoin regulation. The bill draws from previous House efforts to establish strong consumer protection guidelines for stablecoin issuers while encouraging innovation.

The congressman emphasized that the legislation preserves the dollar’s global reserve currency status while fostering technological advancement. The bills represent years of bipartisan engagement on cryptocurrency policy.