The US House of Representatives Committee announces the encryption week to discuss three draft laws
Republican party leaders announced that the “encryption week” will start on July 14, as it drew the attention of Congress to three Web3 bills. They stand at different points in the approval process, but the supporters of industry will all examine them.
The three relevant bills are the genius law, the law of clarity, and the CBDC monitoring law. All three are dealing with the main issues for us the regulatory policy of encryption.
What is in the Crypto Week store?
Now that the Great Great Bill issued its final vote, the Republicans are in a list to implement new legislative initiatives. There are currently several parts of the premium encryption organization that have not yet succeeded through Congress.
So, driving the house Declare The “encryption week” will start on July 14, and highlights these upcoming battles:
“Republicans in the House of Representatives take decisive steps to provide the full range of President Trump’s digital assets and the cryptocurrency agenda. During the” encryption week “, the House of Representatives is looking into consideration in a timely manner for three historic pieces of legislation: the law of clarity, and the CBDC control law.
Currently, the most prominent legislation is the genius law, a regulatory framework for Stablecoins. The draft law approved this Senate in mid -June, but still requires a final vote on the House of Representatives to confirm its various amendments. Looking at its current progress, this draft law will likely benefit from the encryption week.
The draft law enhances the integration of Stablecoins with the financial system, which has led to the spending of tens of tank bonds. He faces accusations of the preference of the FIAT system and the removal of Defi, but it is likely to play a major role in Trump’s plans to dominate Stablecoin.
The law of clarity is a more general regulatory framework, aimed at building consumer protection and classifying a distinctive symbol. Determining whether the original is security or commodity is a thorny issue, and this bill can settle many discussions.
He still makes his way through the committee, so it may benefit from highlighting Crypto Week.
Although the bill has firm support from the encryption industry, it contains great critics. Tom Masad, former CFTC president, warned of his flexibility, on the pretext that his new standards may be loose and impractical to ensure the quality of assets.
We hope that subsequent rounds of voting and discussion will help solve any suspended issues.
To a large extent, the CBDC anti -monitoring law is the lowest prominent goal in the encryption week. The strong opposition to CBDCs is a long -term goal in some American policy circles, and President Trump is firmly in this camp.
However, the bill is also stuck in the committee, and there were no important updates on this issue within about three months.
As is the case, this bill does not include the ban of American citizens of possessing foreign CBDCs. Mostly, it aims to impose an implicit embargo on the federal reserve, which prevents future democratic administrations from creating one.
Compared to others, it does not seem to be a concern. However, Republicans want to achieve this during the Trump period.
All of these three works will be hot topics in Congress throughout the encryption week. Industry observers should remain aware of possible developments.
Post US House committee announces a Crypto week to discuss three bills that first appear on Beincrypto.
