The U.S. Congress is preparing to review three key cryptocurrency bills during "Crypto Week," which may reshape the regulatory framework for the industry

ChainCatcher news, according to DLNews, the House plans to kick off "Crypto Week" on July 14 to review three important pieces of legislation, including the "Genius Act," the "Payment Stablecoin Clarity Act," and the "Anti-CBDC Surveillance State Act."

The "Genius Act" will set federal standards for dollar-backed stablecoins, with issuers exceeding the $10 billion threshold facing oversight from the Federal Reserve and the Office of the Comptroller of the Currency. The "Payment Stablecoin Clarity Act" will establish a federal regulatory framework for stablecoins, while the "Anti-CBDC Surveillance State Act" aims to permanently prohibit the Federal Reserve from issuing retail central bank digital currency.

Cryptocurrency lawyer John Deaton stated that once the bill is signed into law, the likelihood of the government changing policies in the future will be significantly reduced. The market is currently closely watching the outcome of this vote, which is seen as a pivotal moment in determining the direction of U.S. crypto regulation.