Senate Hearing Kicks Off July 9

On July 9, the Senate Banking Committee will host a high-profile hearing titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets.” Key figures such as Ripple CEO Brad Garlinghouse, Blockchain Association’s Summer Mersinger, and Chainalysis co-founder Jonathan Levin will testify.

A new draft bill is expected before the session, modeled after the 2022 Responsible Financial Innovation Act, which would place CFTC as the primary crypto regulator, while the SEC takes a secondary role.

House Declares “Crypto Week” Starting July 14

Beginning July 14, the House of Representatives will officially begin “Crypto Week,” with three major legislative items on the agenda:

• CLARITY Act – focused on market structure

• GENIUS Act – stablecoin regulation

• Anti-CBDC Act – opposing government-backed digital currencies

If passed, these bills will move toward a full vote and potentially be signed by President Trump.

Ripple and Circle Seek National Bank Charters

In parallel, crypto companies are pursuing more legitimacy. Ripple announced that it has applied for a U.S. national bank charter to strengthen trust in its RLUSD stablecoin. The firm also submitted a Fed master account application, aiming to store reserves directly with the Federal Reserve.

Circle, the issuer of USDC, also applied for a bank charter to reduce reliance on third-party institutions by self-custodying its fiat reserves.

Government-Owned Wallets & Token Projects Expand

The government’s crypto initiatives are also moving forward. Trump’s Digital Asset Working Group is expected to finalize its report later this month. While details remain undisclosed, updates on the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile are anticipated.

Meanwhile, projects like USD1 and $TRUMP, a memecoin launched earlier this year, are expanding to the TRON network for broader accessibility.

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The post U.S. “Crypto Week” Begins: CLARITY, GENIUS, and Anti-CBDC Bills in Focus appeared first on Coin Engineer.