On July 15, the US House Committee on Financial Services acknowledged the boom in the digital asset market, saying “the era of digital assets is no longer just a promise, it’s a national priority.”
This statement comes on the heels of ongoing discussion of three crucial regulatory frameworks for digital assets: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act.
On June 17, the US Senate passed the GENIUS Act, which is a regulatory framework to regulate USD-pegged stablecoins, introduced by Senator Bill Hagerty.
Under US President Donald Trump’s pro-crypto administration, the crypto community is expecting clear crypto regulations that can clearly define digital assets. This will also help regulatory agencies like the SEC and CFTC to get clear regulatory roles.
Under President Trump’s vision to make America the “Crypto Capital of the World,” the House of Representatives is taking decisive action to end regulatory uncertainty in the digital asset space.
US House Financial Services Committee Chair French Hill announced a series of legislative efforts during “Crypto Week.”
This landmark legislation is a big turning point after years of stagnation under the Biden administration, which was criticized for its hostility toward crypto innovation.
“Last Congress, we helped drive passage of the Financial Innovation and Technology for the 21st Century Act with which the House of Representatives made history, successfully passing the first comprehensive digital asset market structure legislation in Congress. And in just the first few months of the 119th Congress, we have led our committees to advance the Clarity Act, paving the way to deliver the first comprehensive digital asset framework in American history to the president’s desk,” French Hill stated in an official document.
Chair Hill also praised this week’s legislative momentum as just the beginning of a broader effort to harness digital assets for economic growth and global competitiveness.
“We will continue to lead the way towards clear digital asset regulation, and we look forward to putting legislation on President Trump’s desk soon. Together, we are unleashing America’s full potential and claiming our place as the global leader in digital assets,” the US House Committee on Financial Services said.
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