Three bills, each a fresh whisper of revolution, slink their way through the House of Representatives: the GENIUS Act, the Clarity Act, and—don’t hold your breath—the Anti-CBDC Act. Not quite the stuff of Tolstoy, but perhaps the beginning of a different kind of war.
The “Guiding and Establishing National Innovation for U.S. Stablecoins of 2025” (GENIUS) Act is set to form the scaffolding for stablecoins. Already strutting its stuff in the Senate, it’s now on a path that may just culminate in a governmental seal of approval. Will it be the first crypto bill to soar high above the horizon of skepticism and land in the lap of federal law? Only time will tell, my friend.
Then there’s the “Digital Asset Market Clarity Act of 2025” (Clarity), and no, it’s not a gentle suggestion—it’s the full-bodied, meaty companion to the earlier bill. The Clarity Act promises to draw distinct lines between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), like a well-dressed couple sitting down at a dinner table to hash out their differences. The crypto world, it seems, has waited with bated breath for such a measure. Katherine Dowling, Bitwise’s general counsel, reminded us of that hunger.
Clarity, still untouched in the Senate, exists in the limbo of hearings and hope, awaiting its inevitable ink on paper. The question on everyone’s lips: Will it be signed into law before the calendar flips its last page this year?
And then, dear reader, there’s the Anti-CBDC Surveillance State Act—a bill with all the subtlety of a thunderclap. This one seeks to block the U.S. from building its very own central bank digital currency. A vision of dystopia floats in the air. “If it’s not open, permissionless, and as private as cash, then it’s merely an Orwellian instrument to monitor every movement of the citizenry,” House Majority Whip Tom Emmer declared with a flourish. This one, too, does not yet have a Senate counterpart. Will it vanish in a puff of bureaucracy or materialize into something real?
All three bills, they say, are poised to pass through the House with bipartisan vigor. A victory for the industry? Perhaps. Imperfect? Undoubtedly. But even with their rough edges, these bills offer a sliver of clarity in the cryptic, tangled world of U.S. regulations. Will they pave the way for crypto’s shining dawn? Or will they fall short, like too many of our best-laid plans?
“Other countries are ahead,” Dowling mused, echoing the existential frustration of a people always chasing but never quite catching up. But here we stand, lacing up our shoes, with Washington now embracing crypto faster than we can imagine. The re-election of Donald Trump and the exit of SEC Chair Gary Gensler have shifted the political winds, and suddenly, it’s all about crypto. Who knew?
“Don’t let go of the momentum!” she implores. The notion of a “Crypto Week” and a prominent place in the presidential agenda might be more crucial than we care to admit.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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2025-07-14 21:54