U.S. Crypto Regulation Countdown: White House Insider Says July Will Be a Game-Changer

Washington braces for sweeping crypto legislation as lawmakers push for clarity, while a House probe targets potential federal overreach in banking oversight.

The coming weeks could mark a turning point for U.S. digital asset policy, with new laws poised to reshape how crypto is regulated, issued, and integrated into the financial system.

A Defining Summer for U.S. Crypto Legislation

The landscape of U.S. crypto regulation is set for major transformation, with July emerging as a pivotal month. According to White House AI and crypto adviser David Sacks, lawmakers are finalizing two landmark bills—GENIUS and CLARITY—that could bring long-awaited regulatory clarity to digital assets and stablecoins.

July is expected to be pivotal, with the GENIUS bill set for signing and the CLARITY Act advancing to the Senate. Source: David Sacks via X

“July will be a big month, with a bill signing for GENIUS, and CLARITY going to the Senate,” Sacks stated in a June 26 post on social platform X. The timing signals a coordinated legislative effort, as Congress races to finalize both frameworks by September.

The GENIUS Act: Setting Federal Standards for Stablecoins

The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act of 2025, already passed in the Senate, aims to bring structure to the issuance of payment stablecoins. Under the bill, only approved issuers—such as federally insured banks, regulated nonbanks, or qualifying state-chartered entities—would be authorized to issue stablecoins to U.S. users.

To maintain trust and financial integrity, all issued stablecoins must be backed 1:1 with U.S. currency or equivalent liquid assets. Issuers would also be required to publish monthly reserve disclosures and maintain strict redemption policies. This framework, supporters say, could reinforce the U.S. dollar’s dominance in digital finance while providing much-needed consumer protection.

The CLARITY Act: Defining Roles for SEC and CFTC

Complementing GENIUS is the Digital Asset Market Clarity (CLARITY) Act, introduced in the House. This legislation seeks to delineate the regulatory responsibilities of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). For years, the crypto sector has operated in legal gray areas due to overlapping oversight from both agencies.

After years of regulatory gridlock, the progress on the CLARITY and GENIUS Acts offers a welcome shift toward clearer crypto legislation. Source: Steve Monas via X

CLARITY proposes a legal structure that distinguishes between securities and commodities in the digital asset space. It also introduces safeguards such as fund segregation, broker disclosures, and clear pathways for capital raising. The bill aims to reduce regulatory uncertainty, which has driven some innovators offshore, and to solidify the United States’ global leadership in crypto innovation.

Oversight Intensifies: House Probes Banking Bias Against Crypto

As the legislative agenda picks up speed, the U.S. House Oversight and Government Reform Committee is simultaneously investigating whether federal regulators exerted undue pressure on banks to cut ties with lawful crypto businesses.

The House Committee is investigating claims of federal pressure on banks to cut ties with crypto clients. Source: @CryptoNewsHntrs via X

Committee Chair James Comer revealed on June 25 that the panel has requested internal communications from the Office of the Comptroller of the Currency (OCC). The probe focuses on whether regulators leveraged influence to limit banking services for blockchain and crypto firms, potentially violating fair access principles.

“The Committee is investigating the improper debanking of individuals and entities based on political viewpoints or involvement in certain industries such as cryptocurrency and blockchain,” Comer wrote in a letter to Acting Comptroller Rodney Hood.

OCC’s Policy Shifts Under Scrutiny

At the heart of the question is the OCC’s action to rescind Interpretive Letter 1179, which had allowed federally chartered banks to provide crypto custody and other services. It withdrew it in March 2025 and replaced it with Interpretive Letter 1183, eliminating the supervisory approval requirement but keeping that all crypto business would have to be “safe, sound, and legally compliant.”

While the OCC insists its updated stance has robust supervision, critics argue the policy change has left banks unsure and possibly enabled a chilling effect on financial services related to crypto. Comer referenced whistleblower allegations and disparate agency responses as further justification for the investigation.

Crypto Industry at a Regulatory Crossroads

The dual track of legislative action and congressional regulation is part of a larger initiative to modernize U.S. crypto policy. As political movement gathers force, industry influencers are looking closely. The Trump administration, which has adopted a firmly crypto-benign platform, supports the GENIUS bill and more general stablecoin regulation as a basis of its financial innovation policy.

Prioritizing Bitcoin and crypto, the U.S. President signals a strategic shift that could boost both investment and innovation in the industry. Source: X

At the same time, enforcement agencies such as the SEC are faulted for what some have characterized as a “Frankenstein patchwork” or piecemeal enforcement strategy. The CLARITY Act, industry supporters believe, will address these inefficiencies without sacrificing investor protections while allowing lawful innovation.

Looking Ahead: Reform, Clarity, and Accountability

As July approaches, all hands are on deck on Capitol Hill. The anticipated developments on GENIUS and CLARITY can reshape the future of crypto finance in the U.S. by offering a foundation of regulatory certainty, legal clarity, and institutional confidence.

At the same time, the outcome of the House Oversight Committee probe could launch even more far-reaching changes in the manner in which federal agencies interact with the crypto assets market. If evidence reveals politically driven or excessive influence, calls for greater transparency and accountability will be unavoidable.

What promises to be a revolutionary season in crypto policy in the U.S. is certain about one thing—the game rules are going to change.