What Is ‘Crypto Week’ and Why It Matters for International Brokers

July 2025

The U.S. House of Representatives has formally designated the week of July 14–18, 2025 as “Crypto Week,” a pivotal moment in the evolution of digital asset regulation globally. While the term may suggest a promotional event, it is anything but superficial. It marks the U.S. government’s most comprehensive legislative effort to date to formalise the oversight, classification, and permissible use of digital assets, including stablecoins and tokenised instruments.

Three major bills are at the heart of this initiative: the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins Act), the CLARITY Act (Digital Asset Market Structure Clarity Act), and the Anti-CBDC Surveillance State Act.

These bills aim to lay down a legal framework that distinguishes between digital asset types, outlines responsibilities for regulatory agencies like the SEC and CFTC, and potentially curtails the Federal Reserve's authority to issue a retail Central Bank Digital Currency (CBDC). For international brokers operating across digital and FX markets, the implications of these developments are both far-reaching and strategic.

The most immediate significance of Crypto Week lies in its attempt to provide long-awaited regulatory clarity in the U.S. market, which, until now, has been plagued by fragmented oversight and ambiguous token classification. The GENIUS Act, already passed by the Senate, is likely to be signed into law if it clears the House. It proposes stringent but structured rules around stablecoin issuance, requiring full reserve backing, transparent auditing, AML compliance, and federal registration. If implemented, this would legitimise the use of stablecoins such as USDC or tokenised dollars as valid instruments for settlements, margining, and collateralization across global markets.

Internationally, this matters because the U.S. regulatory approach often becomes the global benchmark. Much as FATCA influenced global financial reporting or how Dodd-Frank shaped OTC derivatives reform, these digital asset bills, if enacted, are expected to influence regulators in the EU, UK, Middle East, and Asia-Pacific.

For example, elements of the GENIUS Act may become reference points as the Markets in Crypto-Assets (MiCA) framework in Europe matures. Brokers who dismiss this as a purely American issue risk falling behind evolving global standards.

Institutional Capital, Liquidity and Competitive Dynamics

Institutional investors have long demanded clearer rules before deploying significant capital into digital assets. This week's proceedings in Washington send a critical signal that the U.S. is beginning to answer that call. With frameworks in place, fund managers, family offices, pension funds, and proprietary trading firms could increase allocations to tokenised products. A compliant and transparent environment paves the way for broader institutional adoption, be it through crypto spot ETFs, tokenised T-bills, or digital FX instruments.

From a brokerage perspective, this regulatory clarity translates into a more liquid and scalable market. It facilitates product innovation: brokers can start offering structured products, stablecoin settlements for FX and crypto trades, or even token-based cross-border payments.

Competitive dynamics will also shift. U.S.-regulated venues and brokers might start offering new products previously held back due to compliance risk, attracting client capital globally. Non-U.S. brokers must now either match the regulatory and technology standards or risk losing ground.

What Will and Will Not Change

There’s a risk of over-interpretation, so it’s crucial to be clear about what these bills do and do not accomplish. The GENIUS Act, if passed, will create a federal framework for issuing and managing stablecoins, but it will not automatically legalise all tokens. The CLARITY Act aims to establish clear jurisdictional boundaries: commodities will fall under the CFTC, securities under the SEC. This separation is significant, particularly for brokers offering tokenised equities, digital bonds, or derivative instruments.

Importantly, the Anti-CBDC bill, perhaps the most ideologically driven, seeks to block the Federal Reserve from launching a retail digital dollar, citing privacy and surveillance concerns. While symbolic, it does little to regulate existing private or institutional use cases.

For brokers, this means that while stablecoins may become more regulated and reliable, the infrastructure for public digital money remains stalled. Also, despite market optimism, these bills do not address every category of digital asset. DeFi tokens, NFTs, and DAO-related structures remain largely untouched and still fall under disparate state or international rules.

Market Reaction and Strategic Considerations

The market response to Crypto Week has already begun. Bitcoin crossed the $120,000 threshold in the lead-up to the hearings, and digital asset equities rallied sharply. This illustrates the degree to which markets are pricing in regulatory clarity as a positive catalyst. However, institutional brokers and liquidity providers should temper expectations: legislative passage does not mean immediate implementation. Regulatory agencies will need to draft rules, hold public comment periods, and formalise oversight infrastructure.

Nonetheless, this period is an ideal window for brokers to recalibrate their strategy. Legal and compliance teams should begin reviewing exposure to U.S.-issued stablecoins and reassess onboarding frameworks. Product teams should consider launching pilots that leverage newly compliant instruments or partnerships with U.S.-regulated entities. From a branding perspective, brokers should be ready to communicate their regulatory readiness and product transparency to both clients and regulators.

While the GENIUS Act enjoys bipartisan support, the CLARITY Act may still face resistance from regulators who view it as undermining existing securities law. The Anti-CBDC Act is even more polarising, with critics warning that it prevents innovation that other jurisdictions, as the EU or MENA, are aggressively pursuing.

There’s also the risk that these bills are watered down or stalled due to procedural delays. International brokers should therefore focus not just on the bills themselves but on the broader trajectory they signal: the institutionalisation and normalisation of digital assets within regulated finance.

Why GCEX 

GCEX is uniquely positioned to help institutional brokers capitalise on the opportunities presented by Crypto Week, through an end-to-end infrastructure encompassing FX, digital assets, and stablecoin settlements. As the GENIUS Act moves forward, GCEX’s relationships with trusted custodians, our robust tier 1 liquidity aggregation, and institutional-grade technology stack enable brokers to access functionality immediately and compliantly.  As the regulatory environment matures globally, GCEX stands ready to serve as a strategic partner in helping you adapt, comply, and grow.

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The content of this material is for informative purposes only and does not constitute investment advice, a recommendation or solicitation to conclude a transaction and is for professional and institutional clients only. It is not directed to Retail Clients or residents of any jurisdiction where FX, CFDs and/or Digital Assets trading is restricted or prohibited by local laws or regulations. FX, CFDs and Digital Assets are leveraged products that can result in losses exceeding your deposit. Trading of these products and digital assets carry a high level of risk and may not be suitable for everyone. Before deciding to trade you should carefully consider your objectives, financial situation, level of experience and risk appetite.