US Democrats push back on digital asset bills with ‘anti-crypto corruption week’
12.07.2025
7282
House Republicans announced a "crypto week" to consider three digital asset bills starting on Monday, but Democratic leaders are pushing back.
The political battlefield in the US Congress over digital assets is heating up. Top Democrats are throwing shade at Republicans' plans to push through three crypto-related bills this week. It's a classic showdown: GOP wants to make moves, Dems are like, 'Hold up, not so fast.'
Maxine Waters and Stephen Lynch, the big guns from the Democratic side, are leading the charge against what they're calling 'dangerous' legislation. They're not just sitting back; they're gearing up for what they've dubbed 'Anti-Crypto Corruption Week.' Talk about setting the stage for drama.
Republicans, on the other hand, are all about that 'Crypto Week' life, aiming to tackle bills on stablecoins, crypto market structure, and CBDCs. But with Democrats waving the red flag, it's anyone's game whether these bills will see the light of day.
“They're doubling down by fast-tracking a dangerous package of crypto legislation through Congress,” said Waters. “Aside from lacking urgently needed consumer protections and national security guardrails, these bills would make Congress complicit in Trump’s unprecedented crypto scam.”
And yeah, Trump's crypto ventures are somehow in the mix, adding another layer of spice to this political telenovela. The man's portfolio reportedly ballooned by $620M thanks to crypto, and now his family-backed biz is under the microscope for its own stablecoin. Coincidence? You decide.
What's on the table?
- • GENIUS Act: Regulating stablecoins, because apparently, they need rules too.
- • Anti-CBDC Surveillance State Act: Because who wants Big Brother watching their digital dollars?
- • CLARITY Act: Trying to make sense of the crypto market structure, because it's a wild west out there.
White House crypto adviser Bo Hines is betting on the GENIUS Act to slide through without a hitch. But the market structure bill? That's looking like a Senate play, with Tim Scott and Cynthia Lummis trying to draft something by September. Meanwhile, the House is like, 'We'll vote on ours first, thanks.'
“This will be our best draft of a market structure bill that’s been debated in the House […] since 2023,” said French Hill. Because nothing says 'urgent' like waiting a year to figure out who regulates what in crypto.
At the heart of it all? A power tussle between the SEC and CFTC over who gets to boss around the crypto world. The House bill is leaning towards giving the CFTC more muscle, because why not add more fuel to the regulatory fire?
#legislation#Political scandal#regulation#stablecoins#USA
Got a topic? Write to ATLA WIRE on Telegram:t.me/atla_community
