US House Passes Three Crypto Bills, Proposes 401(k) Crypto Investment
In July, the US House approved three major crypto bills: the Digital Asset Market Clarity (CLARITY) Act (294–134) clarifying SEC and CFTC jurisdiction and enforcing fund segregation; the GENIUS Act (308–122) requiring fully reserved stablecoins; and the Anti-CBDC Surveillance State Act (219–210) banning a Fed retail CBDC. These crypto bills advance regulatory clarity and market oversight. The GENIUS Act heads to President Trump, who may sign it and issue an order to allow 401(k) plans to invest in cryptocurrencies. He also nominated Eric Tung to the Ninth Circuit Court, a move praised for bolstering compliance certainty. Critics warn of potential systemic risks, so traders should monitor Senate review, NDAA incorporation, and executive actions to gauge market stability and capital flows.
Bullish
These crypto bills deliver much-needed regulatory clarity on SEC/CFTC roles, stablecoin reserves, and ban on a Fed retail CBDC. The prospect of 401(k) plans investing in crypto and a pro-crypto judicial nominee further supports institutional adoption. In the short term, clearer rules should reduce volatility and encourage inflows, while in the long term, enhanced compliance frameworks and broader investor access are likely to underpin sustained market growth.