Trump Revives Crypto Week, Pushes Stablecoin, CBDC Ban Bills
House Republicans launched Crypto Week to fast-track three key bills: the GENIUS Act for stablecoin oversight, the Digital Asset Market Clarity Act to define SEC and CFTC roles, and the Anti-CBDC Surveillance State Act to ban a Fed-backed digital dollar. A procedural vote stalled 196-223 when 13 Freedom Caucus members joined Democrats over the absence of an explicit CBDC ban. President Trump intervened, meeting dissenting lawmakers and securing their commitment to back a rules vote to revive Crypto Week’s agenda. With the Senate already approving the GENIUS Act, only a House vote now stands between these measures and the president’s desk. Traders should monitor passage outcomes closely, as faster stablecoin regulation and a CBDC ban could reshape market stability and compliance dynamics.
Bullish
This development is bullish for the cryptocurrency market. In the short term, traders may experience increased volatility around key House votes on the GENIUS Act, CLARITY Act and Anti-CBDC Surveillance State Act as uncertainty over stablecoin oversight and a CBDC ban drives speculative trading. Long term, the passage of stablecoin regulation and an explicit ban on a retail CBDC would reduce regulatory uncertainty and eliminate potential competition from a Fed-backed digital dollar. Clear guidelines for issuers and defined SEC and CFTC responsibilities could enhance market liquidity, foster institutional participation, and strengthen compliance frameworks. Overall, defined rules and CBDC restrictions are likely to support stablecoin growth and wider crypto adoption.