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House GOP Declares ‘Crypto Week’ to Advance Landmark Digital Asset Bills
House Republicans launch a coordinated push to transform U.S. crypto regulation—while halting central bank digital currency plans.
The U.S. House of Representatives is set to make cryptocurrency a legislative priority during the week of July 14, as House Republicans declare “Crypto Week”—a focused legislative campaign aimed at reshaping digital asset regulation and blocking the issuance of a Federal Reserve-backed central bank digital currency (CBDC).
The effort is part of former President Donald Trump’s broader policy strategy to establish the U.S. as a global leader in blockchain innovation and crypto competitiveness.
Three Key Bills Take Center Stage
During Crypto Week, House leadership will spotlight three critical pieces of legislation:
- The CLARITY Act
- The Anti-CBDC Surveillance State Act
- The GENIUS Act
“After years of dedicated work in Congress on digital assets, we are advancing landmark legislation to establish a clear regulatory framework,” said Rep. French Hill (R-AR), Chair of the House Financial Services Committee.
The bills aim to deliver regulatory certainty, protect consumer rights, and prohibit the Federal Reserve from issuing a CBDC—a digital version of the U.S. dollar that critics argue would endanger financial privacy.
Legislative Milestones Already Achieved
The groundwork for Crypto Week has already been laid:
- In April, the Anti-CBDC Surveillance State Act passed out of committee with a 27–22 vote.
- In June, the CLARITY Act was approved by both the House Financial Services and Agriculture Committees. The bill seeks to remove the SEC’s current oversight authority over crypto.
- That same month, the GENIUS Act cleared the Senate and now awaits a House vote.
“Time and again, we have heard the calls for regulatory clarity,” said Rep. GT Thompson (R-PA), Chair of the Agriculture Committee. “It will soon be time for the House to deliver for the American people and send CLARITY to the Senate.”
Crypto Week Signals a Turning Point
Rep. Tom Emmer (R-MN), a leading crypto advocate in Congress, said that the legislation represents a commitment to financial privacy and free-market innovation.
“American innovators are one step closer to having the clarity they need to build here at home,” Emmer said, “while ensuring the future of the digital economy reflects our values of privacy, individual sovereignty, and free-market competitiveness.”
Senator Cynthia Lummis (R-WY) emphasized that this federal momentum mirrors the trailblazing work already done at the state level.
“In Wyoming, we’ve worked for nearly a decade to embrace digital assets. It’s exciting to see the federal government beginning to follow in the Cowboy State’s footsteps.”
Lummis confirmed she is working closely with Rep. Hill and Rep. Thompson on comprehensive stablecoin legislation, adding:
“We must ensure any CBDC respects Americans’ privacy and financial freedom.”
As Crypto Week approaches, momentum continues to build for a comprehensive redefinition of how the U.S. treats digital assets—shifting the country’s position from reactive oversight to proactive leadership.
@ Newshounds News™
Source: Decrypt
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US Senator Cynthia Lummis Drafts Standalone Crypto Tax Bill
Wyoming lawmaker seeks to overhaul digital asset taxation—cutting red tape, ending double taxation, and boosting U.S. innovation.
Senator Cynthia Lummis (R-WY) introduced a standalone draft bill on Thursday to modernize the U.S. tax code for digital assets—after previous attempts to include crypto reforms in the federal budget package failed.
The new legislation is designed to provide regulatory clarity and eliminate double taxation on crypto transactions involving staking, mining, and lending.
Key Provisions:
▪️ A de minimis exemption for crypto capital gains under $300 per transaction, with an annual cap of $5,000
▪️ Tax deferral on staking and mining rewards until the underlying assets are sold
▪️ Exemptions for crypto lending agreements and charitable donations involving digital assets
“This groundbreaking legislation is fully paid for, cuts through the bureaucratic red tape, and establishes common-sense rules that reflect how digital technologies function in the real world,” said Lummis.
“We cannot allow our archaic tax policies to stifle American innovation. My legislation ensures Americans can participate in the digital economy without inadvertent tax violations.”
The standalone bill is now the primary legislative vehicle for Lummis to fulfill her pro-crypto policy promises, particularly after Congress advanced the 2025 budget without incorporating any digital asset tax reforms.
Crypto Taxation Remains a Flashpoint
Across the U.S. crypto landscape, unclear and inefficient tax rules continue to frustrate investors, developers, and businesses.
A particular area of concern is the treatment of decentralized finance (DeFi) protocols and non-custodial platforms, where developers do not hold user funds or control consensus. Without updated tax code language, these actors risk being misclassified as money transmitters and subjected to reporting obligations designed for centralized financial institutions.
In June, lawmakers introduced an amendment to the Digital Asset Market Clarity Act of 2025—exempting DeFi developers from these requirements. That amendment, if retained in the final version of the bill, would protect innovation by distinguishing between centralized and decentralized projects.
A Race Against Time
U.S. lawmakers are working urgently to finalize crypto-related language in the upcoming federal spending bill, now headed to President Donald Trump’s desk. Whether Lummis’s proposals make it into law through this new standalone bill or are folded into broader packages remains to be seen.
But with bipartisan attention intensifying around crypto taxation, Lummis’s bill may mark a pivotal shift toward fairer, innovation-friendly tax treatment for U.S. digital asset holders.
@ Newshounds News™
Source: Cointelegraph
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