U.S. Crypto Week Begins With Major Legislation Push
America’s ‘Crypto Week’ officially kicked off with the House of Representatives preparing to vote on three major pieces of digital asset legislation: the CLARITY Act (focused on market structure), the GENIUS Act (focused on stablecoins), and the Anti-CBDC Surveillance State Act. T
ogether, these bills represent a turning point in how digital assets are regulated in the United States. The CLARITY Act will likely be the first to be voted on, followed by GENIUS and the less controversial Anti-CBDC bill. House leaders anticipate a clean passage as support from the GOP solidifies.
Stablecoin Focus: GENIUS Act Heads to Trump
The GENIUS Act has already cleared the Senate and is expected to land on President Trump’s desk for final approval. The bill establishes a federal regulatory framework for stablecoins and provides clear oversight for issuers and their reserve management.
Stablecoins like Ripple’s RLUSD and Circle’s USDC, long operating in a gray area, will now be subject to specific compliance standards. Analysts view this as a necessary step for mainstream adoption of crypto-backed financial instruments.
House Democrats Clash with GOP Over Crypto Agenda
Democrats have voiced strong opposition to the GOP-led crypto legislation package. Rep. Maxine Waters dubbed the week “Anti-Crypto Corruption Week” and expressed concerns about conflicts of interest, weak oversight provisions, and the growing political influence of crypto lobbyists.
Despite this, internal messaging within the Democratic caucus reportedly advised members against taking a hard stance. Even so, a few Democrats expressed conditional support for CLARITY, arguing that inaction on regulation could worsen risks in the long term.
CLARITY Act Includes Commodity-Backed Stablecoins
New provisions in the CLARITY Act would allow for the creation of commodity-backed stablecoins—tokens tied to assets such as gold. It also tightens the certification process for monthly reporting by issuers. While the House abandoned its previous STABLE Act in favor of pushing GENIUS forward, these CLARITY revisions are an attempt to refine the legal structure around digital assets further. Some Democrats argue these changes serve corporate interests, while others say they enhance market transparency.
Binance, Trump, and the $100M WLFI Mystery
Investigative reporting by Jacob Silverman and Reuters revealed a potential $100 million WLFI token deal involving the Trump-linked Aqua1 Foundation. The buyer, allegedly a Chinese-Brazilian finance executive affiliated with China’s state-owned CNPC, raises red flags about foreign influence in U.S. digital asset markets. Critics argue that the lack of disclosure around such deals highlights the urgency for enhanced transparency rules.
Binance, Coinbase and Bloomberg Triangle
Binance has also come under fire for its alleged involvement in launching the USD1 stablecoin for Trump-affiliated World Liberty Financial. Binance helped develop, promote, and facilitate a $2 billion transaction involving USD1 and the UAE-based MGX fund. Binance founder CZ dismissed the claims as a smear campaign and suggested that Coinbase may have leaked the information—an accusation Coinbase firmly denied. The infighting underscores the competitive and politically charged atmosphere surrounding crypto exchanges.
$TRUMP Memecoin Surges with Exchange Listings
The $TRUMP memecoin, launched just before President Trump’s inauguration, witnessed lightning-fast listings across major exchanges. Eight of the ten largest platforms listed it within 48 hours, an anomaly in an industry where such listings typically take months. Since launch, the token has generated over $172 million in trading fees. An additional 50.5 million tokens are scheduled to unlock soon, adding $475 million to the circulating supply. Justin Sun, a prominent crypto figure, has announced plans to purchase another $100 million worth of the token, though details remain vague.
Federal Agencies Issue Crypto Custody Guidance
Amid this legislative activity, the Federal Reserve, OCC, and FDIC jointly released updated guidelines for banks handling digital assets. The focus is on safeguarding cryptographic keys, conducting due diligence on third-party custodians, and maintaining operational readiness for crypto-asset storage.
While the agencies clarified they aren’t introducing new rules, the timing coincides with rising institutional interest and growing acceptance of crypto within traditional finance. Ripple’s RLUSD, backed by BNY Mellon, represents the growing overlap between crypto-native firms and established banks.
U.S. Crypto Regulation at a Crossroads
With bills like GENIUS and CLARITY poised to become law, the U.S. digital asset landscape is on the verge of transformation. The GOP-led legislation aims to bring clarity, foster innovation, and attract crypto investment to American markets.
However, critics argue that without robust guardrails and conflict-of-interest safeguards, the nation could be walking into its first crypto-induced financial crisis. As President Trump prepares to sign off on these bills, the world watches to see whether this regulatory overhaul will unlock the next wave of blockchain innovation—or expose deeper vulnerabilities.
