According to Cointelegraph, political tensions in the U.S. Congress over cryptocurrency legislation are escalating. House Democrats are preparing to challenge a trio of major crypto-related bills being advanced by Republicans. On Friday, Representatives Maxine Waters and Stephen Lynch—ranking members of the House Financial Services Committee and its digital assets subcommittee—announced their intent to lead Democratic resistance against what they call “dangerous” Republican proposals.
Waters criticized the GOP’s fast-tracking of these bills, claiming they lack crucial consumer protections and national security safeguards. She went as far as to link the legislation to what she described as former President Donald Trump's “unprecedented crypto scam.” With the Republicans holding only a slim majority in the House, it's uncertain whether they can rally enough support to pass all three bills amid mounting Democratic opposition.
One of the key bills, the GENIUS Act, which focuses on regulating stablecoins, has already cleared the Senate despite initial pushback from Democrats. However, crypto legislation overall continues to stir controversy, particularly with Trump's alleged ties to crypto investments. His family's company, World Liberty Financial, has been criticized for issuing a proprietary stablecoin called USD1, drawing further scrutiny.
The three bills in focus are:
The GENIUS Act – Regulates payment stablecoins.
The Anti-CBDC Surveillance State Act – Blocks development of a U.S. central bank digital currency.
The CLARITY Act – Establishes regulatory structure for the digital asset market.
White House crypto adviser Bo Hines shared optimism on X that the GENIUS Act would pass the House without amendments and head quickly to the President’s desk. Meanwhile, momentum for the market structure legislation appears to be shifting to the Senate, where Senators Tim Scott and Cynthia Lummis plan to introduce a comprehensive bill by September 30.
House Financial Services Chair French Hill recently remarked that the market structure bill will be the most robust draft debated since 2023. It aims to delineate responsibilities between the SEC and CFTC, potentially expanding the CFTC’s oversight role in the crypto space.
This deepening divide in Congress highlights how digital asset regulation remains a fiercely partisan issue—with implications for both financial innovation and investor protection in the U.S.
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