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Crypto Week Recap: Bitcoin Surges as U.S. Debates Digital Asset Bills

Published by
Zameer Attar and Qadir AK

On July 3, the White House announced that the week of July 14 would be observed as ‘Crypto Week’ to discuss three important bills — the GENIUS Act, the CLARITY Bill, and the Anti-CBDC Surveillance Act. As the week began on Monday, the announcement drew mixed reactions from the market, with Bitcoin trading activity increasing as investors expected possible regulatory updates.

What Happened So Far in Crypto Week?

U.S. President Hailed Crypto Week:

On Tuesday, US President Donald Trump cheered, “Happy Crypto Week,” while urging the Republican House to vote in favor of what he calls “tremendous bills.” he reiterated that digital assets are the future of the US nation, and this could make the US the global leader. 

Trump stated, “This is our moment – Digital assets, GENIUS, clarity! It is all part of Making America Great Again, bigger and better than ever before. We are leading the world, and will work hard with the Senate and the House to get even more legislation on this passed!” 

The Bills Stalled: Republicans Joined Democrats

After several hours, a bunch of Republicans joined the Democrats to prevent the legislation from coming to a vote or debate. Previously, Congress leaders, Maxine Waters and Stephen Lynch, announced “anti-crypto corruption week” to stop the US president’s nefarious intentions with digital assets in the name of legislation. At the time, they did not receive any support. 

However, now with the support of 13 Republicans, the bills were blocked from advancing further. The group of Republicans and Democrats opposed to join the procedural vote to bring the three crypto bills to the floor. 

Impact on Bitcoin Trade

Crypto investors have been anticipating Bitcoin to hit new records as US lawmakers prepare to reinforce regulations in digital assets. Bitcoin trade indeed reached new records with trading above $120,000 on the first day of crypto week. 

Investors’ Confidence Boosted in Stablecoins

The GENIUS Act is one of the major bills under consideration in crypto week. The bill aims to establish an enhanced framework for US dollar-pegged stablecoin and create a pathway for companies to issue digital dollars. Xu Han, the director of  Liquid Fund at HashKey Capital, said this bill has boosted investors’ confidence in stablecoins while providing clarity.

FAQs

What is “Crypto Week” and when was it observed?

“Crypto Week” was announced by the White House to be observed the week of July 14, 2025. It was dedicated to discussing and advancing three key crypto bills: the GENIUS Act, the CLARITY Bill, and the Anti-CBDC Surveillance Act, aiming for regulatory updates.

What was the outcome of the crypto bills during “Crypto Week”?

Despite President Trump’s strong support, the bills stalled. A group of 13 Republicans joined Democrats to block a procedural vote, preventing the legislation from coming to a floor vote or debate, effectively halting their advancement for now.

How did “Crypto Week” impact Bitcoin’s trading activity?

Bitcoin’s trading activity significantly increased, reaching new records above $120,000 on the first day of “Crypto Week.” Investors anticipated possible regulatory updates, boosting confidence even before the legislative outcome was clear.

Zameer Attar and Qadir AK

Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

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