Bo Hines, the executive director of the White House Digital Holdings Council and one of the crypto officials of President Donald Trump, referred to the House of Representatives declaring the week of July 14-18 as "Crypto Week" by saying, "A big week is starting."
Hines suggested that one of the most important bills regarding crypto, GENIUS, will be presented for Trump's signature this week. Hines, who expects another bill regulating the cryptocurrency market, CLARITY, to be sent to the Senate after being voted on in the House of Representatives this week, stated, "The time has come to make America the crypto capital of the world!"
What do the GENIUS and CLARITY bills bring?
GENIUS regulates stable cryptocurrencies and imposes certain obligations on companies that issue stable cryptocurrencies. The regulation particularly encourages stable cryptocurrencies pegged to the US dollar.
CLARITY clarifies the roles of the CFTC and SEC in distinguishing between digital commodities and investment contracts for cryptocurrencies. The CFTC is positioned as the primary regulatory body in the cryptocurrency market, while the SEC is responsible for overseeing cryptocurrencies that qualify as securities. The proposal aims to end the "regulation by enforcement" approach that has been heavily implemented during the Biden administration and to reduce uncertainty, thereby preventing innovative companies from relocating outside the U.S.
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Trump's crypto chief: Big week begins - Bitcoin news - Uzmancoin - Crypto and Blockchain
Bo Hines, the executive director of the White House Digital Holdings Council and one of the crypto officials of President Donald Trump, referred to the House of Representatives declaring the week of July 14-18 as "Crypto Week" by saying, "A big week is starting."
Hines suggested that one of the most important bills regarding crypto, GENIUS, will be presented for Trump's signature this week. Hines, who expects another bill regulating the cryptocurrency market, CLARITY, to be sent to the Senate after being voted on in the House of Representatives this week, stated, "The time has come to make America the crypto capital of the world!"
What do the GENIUS and CLARITY bills bring?
GENIUS regulates stable cryptocurrencies and imposes certain obligations on companies that issue stable cryptocurrencies. The regulation particularly encourages stable cryptocurrencies pegged to the US dollar.
CLARITY clarifies the roles of the CFTC and SEC in distinguishing between digital commodities and investment contracts for cryptocurrencies. The CFTC is positioned as the primary regulatory body in the cryptocurrency market, while the SEC is responsible for overseeing cryptocurrencies that qualify as securities. The proposal aims to end the "regulation by enforcement" approach that has been heavily implemented during the Biden administration and to reduce uncertainty, thereby preventing innovative companies from relocating outside the U.S.
Published: July 12, 2025 21:53