Washington Gridlock: Trump’s August Crypto Deadline Looms as Congress Fumbles
Lawmakers scramble—and stumble—to deliver regulatory clarity before the clock runs out. Meanwhile, Wall Street quietly stacks Bitcoin ETFs like poker chips.
### The Looming Deadline
August isn’t just for beach trips and policy paralysis. Trump’s ultimatum for crypto rules forces Congress into a rare moment of urgency—or at least, the appearance of it.
### Why It Matters
No rules mean more chaos: exchanges operate in gray zones, DeFi protocols mock legacy finance, and your aunt’s ‘dogecoin to the moon’ texts get even harder to ignore.
### The Cynical Take
Watch lobbyists carve loopholes while retail traders foot the bill—some things never change, even on the blockchain.
As lawmakers return to Capitol Hill after a two-week recess, crypto legislation is at the top of their agenda. With just three months left before, Congress has a lot of work ahead to craft laws that could define the
took to X to give a *spicy* update on everything that’s brewing.
NEW from me: Lawmakers are back on the Hill to tackle crypto legislation. Plus, a spicy industry letter to Crypto & AI Czar @davidsacks47, and an interview with @WisdomTreeFunds breaking down Friday’s SEC custody roundtable.
https://t.co/BoH5xf5hPz
The pressure is on, but are lawmakers up for the challenge? Here’s the rundown.
Crypto Legislation: The Countdown Begins
Lawmakers are hard at work to push through two key bills: the market structure and stablecoin regulations. With little time left before the August deadline, there’s not much room for error. And let’s be honest, it was about time.
Last Friday, the House Financial Services Committee scheduled a joint hearing with the House Agriculture Committee for May 6, titled “.”
It’s clear that Congress is aiming for a forward-thinking approach.But can they pull it off in time? That’s the million-dollar question.
House Financial Services Committee Chairmanshared that a discussion draft of the new legislation is expected soon. This draft is an updated version of last year’smarket structure bill. Meanwhile, Senate staffers are working on their own version, incorporating elements from both the
Industry Leaders Step Up: DOJ, It’s Time to Listen
While Congress scrambles, the crypto industry is raising its voice.
A petition led by the, along with key industry leaders, has been launched urging President Trump’s, to intervene in the Department of Justice’s prosecution of Tornado Cash co-founder.
The petition argues that developers shouldn’t be criminally liable for how bad actors use their code, especially when they have no control over it. The legal theory behind the prosecution has the potential to seriously impact innovation.
If lawmakers want to ensure the growth of the crypto ecosystem, this issue needs immediate attention.
What’s Next for Crypto?
With Congress hustling to meet the August deadline and the industry pushing for reform, we’re in for a wild few months.
