Trump Urges House GOP to Fast-Track Crypto Legislation—Here’s Why It Matters
Washington's crypto showdown heats up as former President Trump pressures Republicans to revive stalled digital asset bills. The move signals a seismic shift in political tides—Wall Street's old guard won't like what comes next.
Behind the scenes: GOP lawmakers scramble to draft crypto-friendly policies ahead of 2026 midterms. Lobbyists report record-breaking PAC donations from crypto VCs... coincidentally timed, of course.
Market impact: Bitcoin whales pile into political futures contracts. Meanwhile, SEC Chair Gensler's office reportedly burns through antacid stocks faster than FTX burned through customer funds.
The bottom line: When career politicians suddenly champion 'financial freedom,' check their donor lists—and your wallet.
Stablecoins: a pathway to CBDCs?
Despite language in the GENIUS Act, Kadan Stadelmann, Chief Technology Officer at Komodo Platform, said it "does not include provisions explicitly preventing the Federal Reserve from creating a CBDC."
“There is also an opportunity for the Treasury Department to experiment with CBDCs, and the legislation does not prevent that, either,” he told Decrypt.
Trump had personally championed the legislation and urged Republicans to vote ‘yes’ earlier Tuesday, saying the bill would make America the "undisputed, number one leader in digital assets.”
Stadelmann criticized the GENIUS Act as "regulatory overreach, further entrenching fiat and banking interests."
He told Decrypt that stablecoin regulation "risks turning stablecoins into de facto CBDCs" and warned that "the U.S.'s MOVE to regulate stablecoins risks state interference in a market that has been functioning fine without the government becoming overly involved."
“Instead of focusing on regulating stablecoins, Trump should be laser-focused on a Bitcoin Treasury,” Stadelmann said, noting 'Bitcoin is about reliance on independent systems rather than government-mandated ways of transacting."
The legislation has faced continuous criticism from Democrats with Rep. Maxine Waters (D-Calif.) saying that the pending crypto legislation "will open the floodgates to massive fraud and financial ruin for millions of American families.”
DeFi policy experts and industry leaders also criticized the CLARITY Act, telling Decrypt earlier that the bill could "decimate the novel DeFi sector in America" and would "continue the trend of forcing DeFi developers overseas."
