7/24/2025 10:40:09 PM | 1 minute read Reflections on “Crypto Week” and What Comes Next Get in touch Melissa Hall Senior Counsel Get in touch Melissa Hall Senior Counsel “Crypto Week” in the House of Representatives has come and gone—taking place the week of July 14—during which the House voted on three different bills related to cryptocurrency: (1) the GENIUS Act (regulating stablecoins); (2) the CLARITY Act (establishing a digital asset market framework); and (3) the Anti‑CBDC Surveillance State Act (prohibiting a U.S. central bank digital currency (CBDC)). The passage of these three bills, and the GENIUS Act being signed into law, are notable for several reasons, including:The GENIUS Act is the first federal law governing any type of digital asset or cryptocurrency.Two of the three bills had substantial bipartisan support, which is rare in the current Congress.The cryptocurrency industry invested heavily in the 2024 election, focusing donations on what it saw to be key races. The passage of these three bills is concrete evidence that it was a hugely successful lobbying effort.The cryptocurrency industry, originally vocally opposed to regulation, is now advocating for regulation and regulatory clarity. The success of these three pieces of legislation is a remarkable turnaround from an industry that only three years ago was in sharp decline, politically unpopular (due in part to the notorious failure of FTX), and generally believed to be permanently relegated to the sidelines of the financial markets.Cryptocurrency is a 21st century technology, but any regulatory framework in the U.S. will be steeped in traditional financial regulation. The CLARITY Act proposes splitting regulatory jurisdiction between the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, a concept that has gained stakeholder support over the past few years.What’s Next?The GENIUS Act was signed into law on July 18, 2025. The Department of the Treasury and other regulators are now tasked with issuing regulations implementing the law.The CLARITY Act is expected to be taken up by the Senate soon but will undergo substantive changes as the Senate Banking Committee seeks public input on a market framework and its complexities. The future of the Anti‑CBDC Surveillance State Act in the Senate is more uncertain given its lack of bipartisan support and narrow focus on prohibiting a U.S. CBDC.For further insights, check out my recent Q&A with Loeb & Loeb, where I explore how the evolving regulatory landscape is reshaping the cryptocurrency space and its convergence with traditional finance. Tags corporate & finance, financial services, finance, financial technology fintech, blockchain, banking & finance, corporate Get in touch Melissa Hall Senior Counsel Get in touch Melissa Hall Senior Counsel 6/26/2025 7:29:07 PM The Sports Law Playbook: Q2 2025 By John Gatti Lauren Fried Alexander Loh It’s game time: Dive into the summer edition of The Sports Law Playbook, Loeb & Loeb’s quarterly briefing on all things sports law. In… 53 53 Latest Insights 7/24/2025 8:21:59 PM Can Small Business Corporate Debtors Discharge Section 523(a) Debts in a Subchapter V? The Eleventh Circuit Joins the Widening Circuit Split. By Bethany D. Simmons Noah Weingarten 7/23/2025 8:35:54 PM NY Delays Algorithmic Pricing Disclosure Enforcement as Lawsuit Proceeds By Sarah Rubenstein Polak Jessica Lee 10 10 7/23/2025 8:10:27 PM Addition of Arbitration Provision To Terms Not Binding Without Consumer’s Clear Agreement By Brian Heidelberger 18 18
