Summary
Official House Financial Services Committee press release announcing Crypto Week (July 14-18), with quotes from Speaker Johnson, Majority Leader Scalise, Majority Whip Emmer, Committee Chairmen Hill and Thompson, Senate Chairmen Scott and Boozman, and Senators Hagerty and Lummis. The announcement names all three bills: CLARITY Act, Anti-CBDC Act, and GENIUS Act.
Key Points
- Speaker Mike Johnson: “House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda.”
- Majority Leader Scalise: Legislation “further the President’s pro-growth and pro-business agenda.”
- Majority Whip Emmer: “A new day for American excellence has finally arrived.”
- Rep. Bryan Steil (WI): “Passing stablecoin and market structure legislation, alongside a CBDC ban, will ensure the U.S. wins the Web3 race.”
- Senator Tim Scott (Senate Banking Chair): “Cement American dominance in digital asset innovation while protecting consumers and preserving financial freedom.”
- Senator Hagerty: “I look forward to enacting the GENIUS act into law, and to working with my colleagues to move the CLARITY act through the Senate in short order.”
- Senator Lummis: “For the first time in U.S. history, we have a president who sees the value in embracing digital assets.”
- Legislative history timeline: Crypto work in Congress since 2018; STABLE Act and Anti-CBDC Act passed committee April 2, 2025; CLARITY Act passed committee June 10, 2025; FIT21 passed in 118th Congress.
- Key co-authors named: Rep. Kirsten Gillibrand (D) as Democratic Senate partner on GENIUS Act.
Newsletter Angles
- The entire Republican House leadership is unified on this — Speaker, Majority Leader, Majority Whip — this is a top-priority agenda item.
- Gillibrand’s Democratic partnership on GENIUS Act shows the bipartisan reach; CLARITY Act had 7 Democratic cosponsors.
- The timeline is important: this was months in the making, not rushed — FIT21 → STABLE Act → GENIUS Act legislative lineage.
Entities Mentioned
- Bill Hagerty — Senate sponsor, GENIUS Act; quoted
- Cynthia Lummis — Senate champion, crypto week; quoted
- Donald Trump — referenced throughout as driving agenda
- French Hill — Committee chairman; co-announced Crypto Week
- Tom Emmer — Majority Whip; quoted
Concepts Mentioned
- GENIUS Act — stablecoin bill
- CLARITY Act — market structure bill
- CBDC — Anti-CBDC Act
- Stablecoin Legislation — legislative background
- Crypto Week — the legislative sprint
Notes
Primary source document from House committee. Key for tracking who said what and when. Gillibrand’s involvement as Democratic partner is notable — she’s been the most crypto-friendly Democrat in the Senate.