Your Anti-CBDC, CLARITY, and GENIUS Cheat Sheet ☑️

Author

Jonathan Morgan
July 16, 2025

OVERVIEW
Your Anti-CBDC, CLARITY, and GENIUS Cheat Sheet ☑️

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

NEWS
Your Anti-CBDC, CLARITY, and GENIUS Cheat Sheet ☑️ 

More shenanigans in the House today. But before we go into the three bills expected to pass yesterday, today, sometime this week, here’s what’s happened so far today.🗳️ 

  • 9 AM (EST) - Gavel hits, “Crypto Week” banner flying. GOP leadership gloats after Trump’s late-night knuckle-rapping flipped the last holdouts. No votes, just chest-thumps.

  • 10 AM - Warm-up act. Republicans pitch privacy and “beat China,” Democrats yell “TrumpCoin grift.” Countdown to noon begins.

  • 11 AM - Debate officially opens. GOP praises Anti-CBDC, CLARITY, GENIUS like they’re the Three Tenors. Dem amendments brought, politely shot on sight.

  • 12 PM - Floor grows louder. $238B stablecoin stat waved around, surveillance boogeyman invoked. Rule vote queued.

  • 1:15 PM - Procedural rule squeaks through 215-211. GOP high-fives, crypto market gets a tiny, short-lived spike.

  • 2 PM - Spin cycle. Pundits note 100% partisan split, flag GENIUS Act as “closest to law.” Senate still the boss for the other two.

  • 3 PM - Members fire off statements, Boebert runs an X poll, crypto maximalists declare victory, consumer-protection folks declare apocalypse. Cameras start packing up.

  • 4:10 PM - Adjourned. Next stop: final passage votes penciled for tomorrow.

So, what are these bills and what’s in them? There’s a little over 1,000 pages combined, but today’s Litepaper breaks them down in as painless a way as possible. 🤕 

NEWS
Anti-CBDC Surveillance State Act (H.R. 1919) 📑 

  • No retail FedCoin - Bars every Federal Reserve bank from running wallets, holding balances, or issuing a CBDC straight to the public

  • No back-door FedCoin - Stops the Fed from piping a CBDC through commercial banks or fintech proxies

  • Research gag order

    • Fed may not test, study, build, or launch a CBDC

    • No using a CBDC for monetary-policy tweaks

    • Exempts open, permissionless, privacy-preserving dollar tokens

  • Congressional flex - States the Fed never had CBDC authority and won’t get it without a new law

  • Why it matters - Slams the lid on a surveillance dollar while letting crypto devs keep tinkering

NEWS
Digital Asset Market Clarity Act of 2025 (H.R. 3633) 📖 

  • Definitions & provisional on-ramp - New legal terms across securities and commodities laws plus a grace-period registration so platforms don’t get perp-walked while rules cook

  • When a token stops being a security

    • Treats investment-contract assets as commodities once networks are “mature”

    • Sets compliant paths for primary/secondary sales and insider rules

  • SEC lane

    • Carves digital commodities and “permitted payment stablecoins” out of “security” status

    • Lets ATSs (Alternative Trading Systems) list spot crypto; updates record-keeping; tells SEC to chill on DeFi

  • CFTC lane - Spot exchanges, brokers, dealers, and custodians register with CFTC; mandates qualified custodians and a listing-certification regime

  • Innovation lip service - Codifies SEC FinHub, LabCFTC, and orders a stack of studies so Congress can claim it loves tech

  • Odds & ends - Savings clauses keep Howey alive; BSA (Bank Secrecy Act) and conflict-of-interest rules tag along

  • Why it matters - Draws a bright line between securities and commodities so crypto firms know whose phone to answer

NEWS
GENIUS Act - Guiding & Establishing National Innovation for U.S. Stablecoins (S. 1582) 📜 

  • Issuer licensing - Three-year phase-in; only banks, credit unions, or state-approved non-banks may issue dollar stablecoins

  • Regulatory oversight - Licensed issuers face full bank-style exams by their primary watchdog

  • Reserve rules

    • 1-to-1 backing in cash, Fed balances, insured deposits, or ≤ 93-day Treasuries

    • Rehypothecation mostly banned; narrow overnight wiggle room

    • Monthly attestations signed by CEO & CFO; lie and catch criminal charges

  • Redemptions & consumer protections - Clear redemption policy; only regulators can freeze withdrawals

  • Yield ban - No interest, staking rewards, or other yield on the coin

  • Custody - Reserves and private keys must sit with regulated custodians, off balance sheet

  • Bankruptcy priority - Holders jump the line; payouts start within 14 days if an issuer fails

  • Securities carve-out - Properly issued stablecoins aren’t “securities” or “commodities”; issuers aren’t investment companies

  • Treasury veto - Treasury can still block or sanction shady transactions

  • Why it matters - Sets a high bar for dollar-backed stablecoins while choking out yield-farm antics

Official Link: GENIUS Act

NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️

🤖 AI Agents Plot a DAO Takeover and Ask for Consensus Too

Researchers argue blockchains need a fresh behavioral consensus so autonomous agents can govern themselves instead of waiting for human thumbs. DeXe’s modular DAO stack already lets bot SubDAOs stake, vote, and execute once local thresholds clear. Great, your trading script may soon outvote you on whether to buy the dip. DeXe.

📊 The Graph Tells Low-Traffic Chains to Pay Their Own Way

Free lunch is ending at The Graph, and lazy chains without queries are about to discover intermittent fasting. Indexing rewards will now flow only to networks with real usage instead of slide-deck ambition. GIP-0084 rewires the Chain Integration Process so adoption, not aspiration, decides who gets GRT subsidies. The Graph.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🏅 Chiliz Includ3d Accelerator 2.0 Wants Your Web3 Sports Goodness

Chiliz kicked off Includ3d Accelerator 2.0 to school sports orgs on blockchain while handing out the first certification in tech, sport, and social impact. Apparently 180 teams yelling wagmi last season were not enough, so this round comes with Spanish and Portuguese tracks. Apply before month-end if you fancy turning fan chants into smart contracts. Chiliz.

🎮 World of Rogues Builds a Duolingo Streak On-Chain

World of Rogues just explained how its Duolingo-style streaks run on smart contracts and cross-chain callbacks. A StreakSystem logs daily claims, fires Reactive messages, and mints ERC-1155 loot when milestones hit. Imagine getting more consistent rewards from a wasteland RPG than from your actual bank. Reactive.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

🌊 Instadapp Fluid Turns Borrowers into Liquidity Farmers

Instadapp’s Fluid quietly turned idle collateral into overachieving capital while everyone chased meme coins. The system juggles $2 billion in assets, where Smart Debt earns trading fees and Smart Collateral keeps working up to 97 percent LTV. Next up is a modular DEX V2 on Arbitrum ready to make TradFi spreadsheets cry. Arbitrum.

🔗 MEXC Cuts the Bridge, Sends SKL Straight to SKALE

Ethereum bridges can keep their gas fees; MEXC just plugged SKL straight into SKALE’s Europa Hub. Users now jump from SKL trades to gas-free dApps in one hop, with a promo campaign dangling extra volume. First CEX to do it, and it makes paying chain fees feel like dial-up. SKALE Network.

LINKS
Links That Don’t Suck 🔗

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Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋