Ahead of an important week for digital assets legislation, Stand With Crypto (SWC) and over 60 other industry firms sent a letter urging House lawmakers to champion clear regulations for the industry and unlock its potential. Industry Coalition Pushes For CLARITY Act Approval On Monday, advocacy group Stand With Crypto, alongside 65 other firms and groups, sent a letter to the US House of Representatives urging lawmakers to support the bipartisan Digital Asset Market Clarity (CLARITY) Act of 2025 as the US approaches a “pivotal crossroad.” The industry coalition argued that digital assets continue to reshape the global economy, despite some efforts to “politicize crypto legislation,” adding that the US risks falling behind unless pro-crypto policies that fully embrace blockchain technology are quickly adopted. There are already signs of U.S. crypto leadership slipping. We cannot afford to let inaction and uncertainty jeopardize our ability to secure Americaʼs economic future. Above all else the U.S. crypto industry needs market structure — which ensures there are clear rules of the road and provides the regulatory clarity that developers, users, and advocates need to continue innovating. The letter explains that digital assets are “providing a foundation for a more inclusive, transparent, and secure digital economy,” and “opening doors for economic opportunity, innovation, and financial empowerment on a scale weʼve never seen before.” As such, crypto developers require clear guidance and safeguards to continue building blockchain systems, with standards for transparency, security, and accountability, and where users can control their digital assets. The lack of standardized rules has hindered institutional adoption, innovation, and pushed talent and businesses to more industry-friendly jurisdictions outside the US. Nonetheless, passing the long-awaited market structure bill would address these issues, the crypto coalition argues. House Lawmakers Prepare For ‘Crypto Week’ Notably, SWC’s letter comes ahead of the highly anticipated “Crypto Week,” which will see the review of three key legislations during the week of July 14 to 18, including the GENIUS Act and CLARITY Act. As reported by Bitcoinist, House Financial Services Committee Chair French Hill, House Agriculture Committee Chair Glenn Thompson, and Speaker Mike Johnson announced the upcoming discussion on rules on stablecoins, market structure, and central bank digital currency as part of Congress’s efforts to make America the crypto capital of the world. Chairman Thompson affirmed that “it will soon be time for the House to deliver for the American people and send CLARITY to the Senate. I thank House Leadership for recognizing the urgent need for CLARITY to cement American leadership in the digital asset space.” The bipartisan bill was introduced on May 29 by Chairman Hill, aiming to establish a regulatory framework for crypto assets and provide the long-awaited clarity and protection for the industry. If passed, the legislation will assign clear roles and responsibilities to the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC), which would “not only enable and empower developers to innovate, but also protect consumers through choice, foster greater participation in the blockchain economy, and strengthen national security.” Nearly a month ago, the bill passed its two committee markups, but it still needs to pass the full House vote and the Senate before heading to President Donald Trump’s desk.  However, its path to approval has been uncertain, as House Democrats have heavily criticized the bill, and some lawmakers have pushed to merge it with the GENIUS Act, making next week’s debate a pivotal moment for the legislation.

TLDR:

• The WLFI governance vote could activate token tradability for early supporters.
• Token transfers may begin if the community approves the July 4 proposal.
• GENIUS Act vote may legalize stablecoins, fueling WLFI’s market entry.
• Unlock plan limits early access while preserving long-term token supply.

World Liberty Financial has moved to make its $WLFI token tradable, a key step as U.S. crypto regulation takes shape.  The team behind WLFI has introduced a governance proposal that seeks to open the token to public markets. This move would mark a shift from a closed protocol to open community access.  Supporters say the timing is no coincidence, given the upcoming vote on the GENIUS Act. The proposed U.S. legislation could legalize stablecoins and accelerate mainstream crypto use. Governance Vote Aims to Open WLFI to Public Access WLFI announced the tradability proposal on July 4, using the symbolic date to highlight its goal of financial freedom.  The team stated that the proposal would allow the token to be transferred peer to peer or on secondary markets. This would mark a shift in the WLFI ecosystem by enabling broader access and kickstarting active community participation. According to the governance proposal, token holders will vote on whether to approve or reject this shift. A “yes” vote would activate transferability and initiate token unlocking for select early supporters.  A “no” vote would preserve the current closed-network model, with tokens remaining non-transferable. The proposal includes plans to unlock a portion of tokens purchased by early backers. The rest would remain locked, pending a second community vote. Team and advisor tokens will follow a longer lock schedule, signaling commitment to protocol stability and long-term growth. On this Independence Day, we’re making history. The proposal to make $WLFI tradable is now live. Crypto is coming home — and there’s no better day to let freedom ring. Happy 4th of July from your friends at WLFI and from the new crypto capital of the world. … — WLFI (@worldlibertyfi) July 4, 2025 Analysts say early unlocking could influence WLFI price action once tradability begins. Since no tokens are currently transferable, public market introduction could drive initial volatility. Increased accessibility might also raise the token’s profile across the broader crypto market. Proposal Coincides With Key U.S. Stablecoin Legislation Crypto analyst Quinten François noted the timing overlaps with the expected mid-July vote on the GENIUS Act in the U.S. House.  If passed, the legislation would legalize stablecoins at the federal level, providing a regulatory framework for broader adoption. This could attract institutional interest and strengthen market infrastructure. The WLFI team appears to be positioning the token for exposure should the GENIUS Act pass. With the potential for regulatory clarity and increased adoption, WLFI’s transition could align with a larger industry shift. $WLFI TRADABILITY PROPOSAL IS LIVE The WLFI governance just dropped a proposal to make the token tradable. This would mark the official transition from a closed network to full public access! And here’s where it gets interesting: The WLFI team is likely timing this with… pic.twitter.com/6jSBioyZ5C — Quinten | 048.eth (@QuintenFrancois) July 4, 2025 If the community approves the proposal, WLFI will begin enabling token transfers and distribute eligible early supporter tokens. Governance rights will expand, allowing token holders to vote on future actions including emissions and treasury use.   The post Trump-Backed WLFI Tradability Proposal Launches Ahead of GENIUS Act Vote: Crypto Price Shift Possible appeared first on Blockonomi.

It’s safe to say that the surge in stablecoin adoption has not gone unnoticed by the banks. Several of the largest banks in the US are reportedly in early talks to launch a joint stablecoin, aiming to challenge the popularity of crypto and digital payment solutions.  “The conversations have so far involved companies co-owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other large commercial banks, according to people familiar with the matter,” confirmed the Wall Street Journal in a 22 May 2025 report. The project is in its conceptual phase and hinges on evolving regulatory frameworks, particularly the new stablecoin legislation. The consortium would involve Early Warning Services and The Clearing House, both pivotal players in the US payments infrastructure.  WALL STREET STABLECOIN? JPMorgan, BofA, Wells Fargo, and Citi are exploring a joint crypto stablecoin. But if banks control the network… how is this NOT a CBDC? Decentralization on the line.#stablecoin #RLUSD #usdt pic.twitter.com/t7EbYjHjbx — AltcoinPro (@AltcoinPro_) May 23, 2025 Explore: The 12+ Hottest Crypto Presales to Buy Right Now Wall Street Stablecoin in the Making? Big banks are teaming up to create a joint stablecoin. Because nothing says "we understand crypto" like a committee of suits trying to reinvent the wheel. Stay tuned for the launch of "BankCoin"—coming soon to a bureaucracy near you. pic.twitter.com/djjxdbaGSw — Surge (@WeSurgeNow) May 23, 2025 In recent years, stablecoins have become a preferred vehicle for fast, low-cost transfers, especially in cross-border settings where traditional banking systems can be cumbersome.  As crypto-native firms and even big tech companies eye the stablecoin market, US banks are increasingly concerned about losing deposits and transaction volume to the new digital challengers. Hence, a Wall Street stablecoin could be in the making! Furthermore, the potential for stablecoins to serve as “digital dollars” threatens the core business of banks, prompting them to consider launching their own alternative.  DISCOVER: Best New Cryptocurrencies to Invest in 2025 – Top New Crypto Coins GENIUS Act Advances With 66 Votes The US Senate has advanced the GENIUS Act, a bipartisan bill regulating stablecoins. The legislation passed a procedural vote with 66 in favor and 32 against, signaling strong momentum for regulatory clarity. The bill aims to set clear guidelines for stablecoin issuers, including 1:1 asset backing, anti-money laundering compliance, and consumer protections. It could help reduce systemic risk and promote more mainstream adoption of crypto-based payment systems if enacted. However, the bill has also drawn scrutiny, particularly concerning US President Donald Trump’s growing ties to crypto. Some critics argue that these ties may introduce potential conflicts of interest, especially if policies are shaped to benefit affiliated ventures. Still, for market participants, the advancement of the GENIUS Act is largely seen as a step toward legitimacy for digital assets and stablecoins in particular. With Bitcoin nearing its all-time high and institutional interest returning, the regulatory structure may help sustain momentum. Explore: TRUMP Meme Coin Pumps Amid GENIUS Act: New Presale to Buy Key Takeaways

JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other large commercial banks are contemplating a joint stablecoin to counter crypto competition.

The potential for stablecoins to serve as “digital dollars” threatens the core business of banks, prompting them to consider launching their own alternative. 

The post US Banking Giants Explore Joint Stablecoin to Counter Crypto Competition appeared first on 99Bitcoins.