Crypto Week Commences: Lawmakers and Industry Go All In
Your essential guide to all things crypto in Congress this week
Welcome to the Monday edition of the Crypto In America newsletter!
What you’ll read: Crypto Week deep dive, Bitcoin’s fresh milestone, key economic reports, and Roman Storm’s trial begins in New York.
Crypto Week on the Hill is officially underway and it’s shaping up to be much more than just a House affair.
With the Senate Banking Committee prepping a high-level roundtable and set to release its market structure discussion draft, and industry stacking the calendar with events and receptions, what began as a House initiative has officially become a Capitol-wide event.
On the House side: Majority Leader Steve Scalise (R-LA) is expected to release the floor schedule today, with votes teed up on three major GOP-led crypto bills: GENIUS, CLARITY, and Anti-CBDC. If things stay on track, a “clean” stablecoin bill could head to the White House by week’s end, while CLARITY and Anti-CBDC move over to the Senate.
Still TBD: What the amendment process looks like for CLARITY and the Anti-CBDC bill. If amendments are permitted, expect a series of votes and longer debate. The House Rules Committee has posted some amendments for both bills on its website.
Also on the House side, the Ways and Means Oversight Subcommittee is diving into crypto tax policy Wednesday with a hearing titled: “Making America the Crypto Capital of the World: Ensuring Digital Asset Policy Built for the 21st Century.” Expect tax treatment, reporting rules, and innovation incentives to be front and center.
Over in the Senate, Banking Committee Chairman Tim Scott (R-SC) is hosting a member roundtable Thursday morning on the future of digital assets. Industry heavyweights like Cardano’s Charles Hoskinson, Algorand’s Silvio Micali, and former SEC Commissioner Michael Piwowar will join the discussion on regulatory clarity, market-based compliance, and advancing responsible innovation.
Senate Banking is also gearing up to release its market structure discussion draft as early as Wednesday — essentially the Senate’s version of the House’s CLARITY Act. It builds on a six-principle framework the committee dropped last month, which called for clearer jurisdiction lines and a modernized regulatory regime for digital assets.
Meanwhile, the Senate Agriculture Committee is also set to hold its first hearing on crypto market structure Tuesday, zeroing in on stakeholder views around federal oversight of so-called digital commodities. Witnesses will include Ji Kim, CEO of the Crypto Council for Innovation; former CFTC chairs Rostin Behnam and Timothy Massad; Tom Sexton, President and CEO of the National Futures Association; and Walt Lukken, President and CEO of the Futures Industry Association.
The crypto industry is calling this “the week that changes everything” for U.S. crypto policy — and they’re showing up for it.
A full slate of events is underway across D.C., including a policy lunch this afternoon hosted by the Crypto Council for Innovation, Wednesday’s Solana Policy Institute summer social, and numerous other receptions and briefings throughout the week.
Coinbase is also making its presence known, rolling out a six-figure marketing campaign with billboards, digital trucks, full-page print ads, and handing out over 5,000 CLARITY Act–branded chocolate bars across Capitol Hill — all aimed at pushing Congress to pass the House’s market structure bill.
And we can’t forget, House Democrats are running their own counter-programming. Reps. Maxine Waters (D-CA) and Stephen Lynch (D-MA) kicked off “Anti-Crypto Corruption Week” today by targeting Trump’s $TRUMP memecoin — calling it a textbook pump-and-dump that enriched him by $350 million and opened the door to foreign influence.
They’re urging lawmakers to reject all three GOP-backed crypto bills and instead back Waters’ Stop TRUMP in Crypto Act of 2025, designed to block Trump and his family from profiting off digital assets while in office.
Bitcoin Hits New All-Time High
Perhaps fittingly to kick off Crypto Week, Bitcoin touched a new all-time high of $123,000 Monday morning, fueled largely by strong inflows into bitcoin ETFs and positive investor sentiment around crypto policy.
The momentum follows a banner week for bitcoin ETFs, which recorded $1.18 billion in inflows on Thursday alone — the biggest single-day haul of 2025 so far.
Bitcoin is now up 30% year-to-date, sparking a broader rally across crypto markets. Ether reached a five-month high of $3,059.60, while XRP and Solana each gained about 3%.
The total crypto market cap has ballooned to $3.8 trillion, according to CoinMarketCap.
🏛️ Elsewhere in Washington
In addition to crypto, several key pieces of inflation and economic data are expected this week.
Tuesday
8:30 AM EST: The Bureau of Labor Statistics releases its June Consumer Price Index, and the New York Fed publishes its latest manufacturing survey.
10:00AM EST: The House Financial Services Committee holds a hearing marking 15 years since the passage of Dodd-Frank.
3:30 PM EST: The Senate Agriculture Committee will hold its first hearing on crypto market structure.
Wednesday
8:30 AM EST: The BLS releases its Producer Price Index for June.
9:00 AM EST: House Ways and Means Oversight Committee holds a hearing on crypto tax policy.
2:00 PM EST: The Federal Reserve releases its Beige Book, providing a snapshot of how the economy is performing across the country.
Thursday
8:30 AM EST: The Commerce Department releases retail sales data, and the Philadelphia Fed publishes its latest manufacturing survey.
Friday
10:00 AM EST: The University of Michigan publishes its preliminary July consumer sentiment survey, offering a snapshot of how consumers feel about the economy, wages, jobs, and their personal finances.
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Tornado Cash Trial Begins in New York
While the focus in Washington is on Crypto Week, over in the Southern District of New York, the criminal trial of Roman Storm kicks off today.
Storm is the co-founder of Tornado Cash, a crypto privacy mixer that the U.S. Department of Justice alleges was used to launder billions of dollars, including funds tied to North Korean hackers. He faces charges of conspiracy to commit money laundering and violating U.S. sanctions laws — charges that could carry up to 40 years in prison.
In case you missed it, check out Crypto In America’s exclusive interview with Storm. ⬇️
Remember, new editions of the Crypto In America newsletter drop every Monday, Wednesday and Friday at 7AM EST.
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Glad I found you :) thank you :)
Hi folks, you know I appreciate the links, but this newsletter has more than I can cover in one sitting.
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