Next week, starting July 14, is “Crypto Week” in the U.S.
This event is a series of policy votes being held by lawmakers in Washington hoping to push through three critical pieces of crypto regulation. It would be the first time in the U.S. that the digital asset sector might hope for federal regulatory clarity.
“The House of Representatives looks forward to considering the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act as part of Congress’ efforts to make America the crypto capital of the world,” said House Committee on Financial Services Chairman French Hill and House Committee on Agriculture Chairman GT Thompson in a statement.
“We are advancing landmark legislation to establish a clear regulatory framework for digital assets that safeguards consumers and investors, provides rules for the issuance and operation of dollar-backed payment stablecoins, and permanently blocks the creation of a Central Bank Digital Currency (CBDC) to safeguard Americans’ financial privacy,” Hill added.
2025 is increasingly looking like the year of structured adoption for crypto regulation, as the U.S. government inches closer to a durable framework. Traditional finance is slowly integrating blockchain rails. Institutional custodianship and audits are becoming the norm. And new players are designing use cases beyond crypto exchanges, such as payroll, microfinance and supply chain settlements.
Stablecoins Are Emerging as a New Financial OS
Zooming out, it’s clear that stablecoins are no longer a side project of crypto maximalists or FinTech hobbyists. They’re becoming a new operating system for digital finance, connecting governments, corporations, developers and everyday users in real time.
For example, Ant Group plans to integrate Circle’s USDC into its blockchain platform, pending U.S. regulatory approval, leveraging growing FinTech demand in Hong Kong and elsewhere. Last week, the startup AllScale secured $1.5 million to build stablecoin payment and treasury tools tailored to small businesses.
On Wednesday (July 9), the Bank of New York Mellon Corp. (BNY) agreed to hold primary custody of Ripple’s stablecoin reserves, underscoring how stablecoins are being eyed as instruments of settlement and value transfer by the traditional financial sector.
As Wall Street increasingly embraces stablecoins, CFOs are encouraged to ask critical questions about risk, governance, collateral and operations before adopting them.
Mitigating Fraud and Systemic Risks by Building Trust
While policy and infrastructure advance, the issue of trust looms large. As adoption scales, so do the fraud patterns.
PYMNTS’ latest coverage of crypto-related scams shows that social engineering tactics like impersonation, FOMO triggers and fake job postings are on the rise. Understanding how crypto fraud tactics have morphed from opportunistic hacks to well-organized and even state-backed deceptions might also help institutions, businesses and regulators chart a smarter, more secure path forward in a rapidly maturing market.
Amundi, Europe’s largest asset manager, has warned that if dollar-backed stablecoins gain dominant status internationally, they could threaten global financial sovereignty — especially in developing economies.
At the same time, Federal Reserve Governor Christopher Waller offered a more optimistic view. In a recent speech, Waller suggested that stablecoins — properly regulated — could lower transaction costs and inject competition into the payments market, reducing consumer fees and settlement lags.
Could a Regulatory Pivot Mean Clarity at Last?
In a major step toward federal clarity, the U.S. Senate passed the GENIUS Act in June 2025. Now, with the House set to vote next week and President Donald Trump publicly urging swift passage, the legislation is being positioned as the regulatory North Star the industry has long sought.
At the same time, Jonathan Gould, the newly confirmed Comptroller of the Currency, has declared digital assets and new bank formation as core priorities. In his confirmation hearings and early memos, Gould emphasized a modernized regulatory posture that fosters responsible innovation without compromising consumer protection.
Ultimately, the stablecoin and crypto operating system is still under construction, and its direction remains contested. Caught in the middle are CFOs, consumers and emerging markets. —each assessing whether this new system will offer more security, transparency and inclusion than the one it hopes to replace or supplement.
