For whatever reason, the United States at the Federal level continue to delay taking a stand regarding cryptocurrency.
Many in the crypto community feel that mass adoption is being hindered by the Federal government's unwillingness to rule.
A BILL
To amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to exclude digital tokens from the definition of a security, to direct the Securities and Exchange Commission to enact certain regulatory changes regarding digital units secured through public key cryptography, to adjust taxation of virtual currencies held in individual retirement accounts, to create a tax exemption for exchanges of one virtual currency for another, to create a de minimis exemption from taxation for gains realized from the sale or exchange of virtual currency for other than cash, and for other purposes.
H.R. 7356 (115th): Token Taxonomy Act
What is your state's laws on crypto?
2018 LEGISLATION
http://www.ncsl.org/research/financial-services-and-commerce/cryptocurrency-2018-legislation.aspx
2025
CRYPTOCURRENCY WEEK
Here’s a tight summary of the major recent crypto legislation in the U.S.:
1. GENIUS Act (Stablecoin Regulation)
- What it does: Establishes the first comprehensive federal framework for payment stablecoins.
- Requires issuers to hold 1:1 reserves in liquid, low‑risk assets.
- Mandates regular audits, disclosure of reserves, and consumer protections. (Business Insider, Wikipedia)
- Status: Passed Senate (68–30) on June 17, 2025; passed House (308–122) July 17; awaiting presidential signature. (The Washington Post)
2. Digital Asset Market Clarity Act (“CLARITY Act”)
- Goal: Clarifies regulatory roles—SEC governs securities, CFTC oversees commodities.
- Sets boundaries, defines “registered digital assets” to streamline compliance. (MarketWatch)
- Status: Passed House (294–134); pending Senate consideration. (Axios)
3. Anti–CBDC Surveillance State Act
- Purpose: Blocks the Federal Reserve from issuing a central bank digital currency (CBDC), citing privacy concerns. (MarketWatch)
- Status: Narrowly passed House (219–210); heading to the Senate. (AP News)
4. FIT21 (Financial Innovation & Technology for the 21st Century Act)
- Overview: Passed House in May 2024 to define asset classification:
- CFTC regulates sufficiently decentralized assets as commodities.
- SEC regulates less‑decentralized assets as securities.
- Current status: Awaiting Senate action; covers non-stablecoin digital assets. (Wikipedia)
5. Trump Executive Actions
- EO 14178 (January 2025): Prohibits Federal Reserve from creating a CBDC; directs task force to design digital asset regulations in 180 days. (Wikipedia)
- Strategic Bitcoin Reserve (March 2025):
- Creates a federal bitcoin reserve and digital asset stockpile using seized assets.
- Mandates Treasury oversight and possible future asset acquisitions. (Wikipedia)
Why it matters:
- For stablecoins: These bills mark the first serious federal oversight, potentially stabilizing the supply and boosting institutional confidence. (MarketWatch)
- Market clarity: The CLARITY and FIT21 Acts help define what’s considered a commodity or security, reducing regulatory ambiguity.
- CBDC ban: Reflects strong privacy protections and skepticism toward centralized digital currencies.
- Crypto-friendly stance: The Trump administration’s actions (reserve and executive orders) position the U.S. as a potential global crypto leader—but also raise concerns about conflicts of interest. (The Washington Post, AP News)
Summary Table
| Legislation | Focus Area | Status |
|---|---|---|
| GENIUS Act | Stablecoins — reserve & audit | Passed House & Senate; pending signature |
| CLARITY Act | Regulatory clarity (SEC vs CFTC) | Passed House; pending Senate |
| Anti‑CBDC Act | Ban on Federal Reserve‑issued CBDC | Passed House; pending Senate |
| FIT21 | Asset classification framework | Passed House 2024; pending Senate |
| Executive Orders & Reserve | Fed CBDC ban & bitcoin reserve setup | Already enacted |
This marks a pivotal shift from regulatory ambiguity toward structured oversight, potentially unlocking greater mainstream and institutional adoption of digital assets.