Three major encryption bills will be voted on this week!

This week, Washington is set to welcome Crypto Week, as the three major bills that have impacted the history of encryption development will face their moment of truth this week: first up is the "Digital Asset Clarity Act," which clarifies whether crypto assets are securities or commodities, resolving the regulatory conflict between the SEC and CFTC.
The bill was passed by a bipartisan majority vote in the House Financial Services Committee and the Agriculture Committee on June 10. Wednesday's vote was the official House vote. If passed, it will also need to be approved by the senators before being submitted to the president for signing.
On Wednesday, the main content of the "Anti-CBDC Surveillance Act" will also be reviewed, which is to prohibit the Federal Reserve from issuing central bank digital currency (CBDC) for individuals. The reason is that the digital dollar would give the government "back-end surveillance" capabilities over citizens' bank accounts and transactions, and it emphasizes that the United States must maintain the tradition of free markets and financial privacy, distinguishing itself from the monitored CBDCs developed by certain major countries. However, the United States is currently one of the countries with the strictest anti-money laundering regulations, and all dollar transfers must go through the U.S. payment system. I deeply suspect that the actual motive behind this legislation is the concern that the Federal Reserve might personally issue stablecoins, affecting the commercial interests of other stablecoin issuers.
On Friday, July 18, the House of Representatives will also review the "Genius Act" for stablecoins. Unlike the previous two bills, this "Genius Act" has already passed a vote in the Senate, so as long as it passes the House again, it can be sent to President Trump for his signature.
In the face of the enthusiasm for Bitcoin reaching new highs in the past few days, the few bills voted on this week are unlikely to continue driving up the price of cryptocurrencies. On one hand, the market expectation for these bills is that they will be passed by default, and this positive news has already been priced in, so the focus is mainly on whether there will be any cases of them not being passed.
If there are individual bills that do not pass, it may lead to a wave of declines. Additionally, in this historic week, if Bitcoin wants to continue to rise, either Powell has to resign, or he has to agree to cut interest rates under pressure. However, if Powell is not in a hurry to make a statement, his next public speech will be after the FOMC meeting at the end of the month, and it is possible that the answer will only be revealed then.