Eliza Wong
Key Developments at a Glance
- US House passed three major crypto bills during “Crypto Week” including GENIUS Act, Clarity Act, and Anti-CBDC Act
- Only GENIUS Act has been signed into law, creating stablecoin framework – other bills face legislative hurdles
- Implementation may take 1-3 years with Treasury rulemaking and potential legal challenges
- Crypto markets reacted positively but analysts warn against premature celebration
- The Clarity Act faces Senate review next month to define SEC/CFTC jurisdictional boundaries
The Reality Behind Crypto Week Momentum
Last week witnessed unprecedented cryptocurrency legislative activity with the US House passing three landmark bills, capped by President Trump’s signing of the GENIUS Act. Market response was immediate – Bitcoin reached new highs while Coinbase shares surged. Cryptocurrency proponents heralded Crypto Week as a watershed moment.
However, the champagne remains corked for knowledgeable industry observers who recognize these legislative victories represent beginnings rather than conclusions. The GENIUS Act alone faces a year-long implementation timeframe through Treasury rulemaking. The Clarity Act must secure Senate approval, while the Anti-CBDC legislation faces an even rockier path that could extend negotiations into December.
TD Securities analyst Jarrett Seiberg cautioned clients: “This is just the beginning of the process, not the end.” His sobering perspective reflects regulatory reality – Crypto Week momentum requires sustained Congressional cooperation and rulemaking precision to achieve industry transformation.
