Senate and House Advance Separate Crypto Bills as Regulation Gains Momentum

U.S. lawmakers are making decisive moves to regulate digital assets, as the Senate prepares for a critical hearing following its passage of the GENIUS Act, while the House accelerates work on the CLARITY Act. The efforts signal bipartisan urgency to establish a formal framework for the crypto industry, with key stakeholders like Coinbase and Multicoin Capital testifying this week on how future policies should take shape.

• Senate gears up for a major hearing featuring top crypto legal experts and academics
• GENIUS Act passed by the Senate, now awaits House action as regulatory clarity gains traction
• House Financial Services and Agriculture Committees push CLARITY Act forward for a vote

Following the Senate’s 68-30 vote to approve the GENIUS Act last week, focus has now shifted to refining the legislative path for digital asset oversight. The GENIUS Act was designed to set a foundational framework for payment-related crypto assets and is now under review in the House of Representatives; President Trump wants it passed ASAP.

On Tuesday, the Senate Banking Committee’s digital assets subcommittee will hold a pivotal hearing. It will feature testimony from Coinbase’s Vice President of Legal, Ryan VanGrack; Multicoin Capital’s General Counsel, Greg Xethalis; and Wharton School’s Executive Director, Sarah Hammer. Their insights are expected to guide legislative approaches surrounding digital assets market and stablecoin payments.

While the Senate crafts its strategy, the House is progressing on a separate front. The CLARITY Act—advanced by the House Financial Services and Agriculture Committees—aims to bring order to how U.S. regulators define and manage crypto markets. This split-track development shows strong momentum but also raises questions about whether the chambers will reconcile their visions through a unified bill or pursue parallel regulatory regimes.

Both bills could significantly influence stablecoin development, especially as the use of stablecoins grows across cross-border transactions, fintech platforms, and institutional finance. Supporters say regulatory clarity will also stimulate broader interest in crypto investing, as the global adoption accelerates that has long plagued the sector begins to clear.

However, controversy isn’t far behind. Some Democrats are voicing concern about former President Donald Trump’s connections to crypto projects; memecoins, the World Liberty Financial platform, and political donations from crypto company executives. Critics argue the legislation could benefit Trump and his allies financially, a claim that adds a layer of political tension to the regulatory discussion.

FAQs

What is the purpose of the GENIUS Act?
The GENIUS Act aims to provide a regulated foundation for stablecoin payments, supporting their adoption in both consumer and institutional settings while promoting responsible stablecoin development.

Why is the CLARITY Act important for crypto investors?
It clarifies which federal agencies have oversight of digital assets, giving people involved in crypto investing greater confidence and reducing legal ambiguity.

How will this legislation impact stablecoin development?
The bills are designed to encourage stablecoin development by creating transparent guidelines, enabling safer innovation and integration into the traditional financial system.

Who is opposing the stablecoin bill and why?
Some lawmakers worry that individuals with prior involvement in crypto investing, including former President Trump, may personally gain from the bill’s passage due to their business or political ties.

What is the significance of the Senate’s upcoming hearing?
It provides lawmakers with expert input on designing effective regulation for digital assets, including how to manage stablecoin payments within the broader financial system.