Crypto Community Bullish About The Approval Of CLARITY And GENIUS Acts This July

• The cryptocurrency community is optimistic about the passage of the CLARITY and GENIUS Acts before August.
• French Hill (AR-02) confirmed they will hold their deliberations and votes on the bills in two weeks.

French Hill, a representative of the Second District of Arkansas, just gave an explosive update on the timeline for the CLARITY Act and GENIUS Acts. According to the House Financial Services Committee chairman, the US House of Representatives will deliberate and vote on the final version of the proposed laws in two weeks.

Two-Week Timeframe for the CLARITY And GENIUS Acts

The American lawmaker explained that the passage of the CLARITY and GENIUS Acts into law is necessary for the preservation of the US dollar’s dominance in global finance. He emphasized that the bills will provide clear guidelines on how investors, issuers, and entrepreneurs can navigate the digital assets or cryptocurrency space. Importantly, they prescribe ways for market participants to avoid potential federal violations.

“Right now, digital assets, cryptocurrency, and everything related to using financial payments on the blockchain are basically not regulated, not clear to consumers, investors, and entrepreneurs how to to use it, how to avoid federal prosecution,” said Hill in an interview with Fox News. “So in two weeks, we’ll bring to the House floor the CLARITY Act, which gives the rules of the road of how to invest in digital assets, how to trade them, how you can be a broker, and the market framework for digital assets.”

ADVERTISEMENT“We’ll also bring to the House floor dollar-backed stablecoins,” the politician added. “We believe those two things will advance America’s power around the world in financial services by extending the authority of the US dollar as we move from finance in the traditional format to finance being carried out on the blockchain.”

Hill’s statements aligned with the same timeframe Bo Hines, the digital assets adviser of the White House, mentioned as he commented on the successful passing of the “Big Beautiful Bill” in Congress and its signing by President Donald Trump on July 4.

The latest developments hyped the crypto community about the possible transition of the pending bills into law before August.

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These reassurances come hot on the heels of the declaration of Crypto Week in the House from July 14 to 18. During the occasion, the Financial Services, under the guidance of Hill, will further tackle and refine the proposed provisions of the CLARITY Act and the Senate’s GENIUS Act. Alongside these will be the Anti-CBDC Surveillance State Act, which reinforces Trump’s earlier Executive Order to ban any attempts to create a Central Bank Digital Currency (CBDC).

The Committee highlighted that the aforementioned efforts harmonizes with Trump’s campaign promise of making America the “crypto capital of the world.”

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