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Congress Clashes Over Trump-Backed Crypto Legislation as Partisan Divide Deepens

Congress Clashes Over Trump-Backed Crypto Legislation as Partisan Divide Deepens

Published:
2025-07-14 23:13:01
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BTCCSquare news:

House Republicans are fast-tracking three controversial cryptocurrency bills endorsed by former President Donald Trump, sparking fierce Democratic opposition. The legislative push, dubbed "Crypto Week," has intensified debates over stablecoin regulation, jurisdictional clarity between regulators, and potential threats from a digital dollar.

The GENIUS Act proposes federal oversight of stablecoins, requiring full asset backing and monthly transparency reports. Republicans frame it as a catalyst for financial innovation, while Democrats criticize it as a vehicle for special interests. Meanwhile, the CLARITY Act reignites the SEC-CFTC turf war over crypto oversight, and an anti-CBDC bill gains traction among privacy-focused conservatives.

With votes expected before the August recess, the legislative showdown reflects growing political polarization around digital assets. Market participants watch closely as these developments could reshape the regulatory landscape for cryptocurrencies.

|Square

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