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Crypto Week next week in the House. We are voting on several crypto bills. The primary objective of crypto is to send payments (or move tokens representing other assets) at the speed of light, without involving any 3rd party – the same characteristics as cash. This would empower individuals to interact freely and securely without paying fees or having their data compromised. President Trump issued an executive order to lay out his objectives for digital assets (link in comments). 1. Ban central bank digital currency (CBDC). This is the Anti-CBDC Surveillance State Act. CBDC is sometimes called programmable money. Your use of your own money would not only be monitored, but it could be conditional or even expire. In China they are linking CBDC to social credit scores. Digital ID and social credit systems could be possible with Palantir’s project. 2. Protect self-custody (like cash, the right to personally hold and transfer your own crypto without a 3rd party). This doesn’t yet have a clear path to become law. For me, it is the litmus test of honest regulation. 3. Regulate stablecoins (7% of the market). This is the Senate’s GENIUS Act. 4. Create a market structure bill to modernize security, commodity, and trade laws to properly regulate digital assets (93% of the market). This is the Clarity Act. Clarity is pretty good, I am a cosponsor. But here is the play they are running in the House: The Senate's GENIUS Act to regulate stablecoins should be amended. Instead, they want to pass it without amendments to the actual bill. It would go to the President, and become law without amendment. The House would pass the CBDC ban as a standalone bill and load up Clarity (the market structure bill) with amendments to GENIUS (empty promises in my opinion). The standalone CBDC ban doesn't have a path to 60 votes in the Senate and the Clarity bill will be gutted in the Senate if it even gets a hearing. Next week's process is designed to ultimately fail - on all but passing GENIUS without amendment (the Senate’s stablecoin bill). Without the CBDC ban, CBDC delivery architecture would be in place, and nothing would protect self-custody. For this reason, I will oppose the GENIUS Act.