Democrats | Crypto

US Democratic lawmakers, led by House members Maxine Waters and Stephen Lynch, announced on July 11 that next week will be designated “Anti-Crypto Corruption Week.” The initiative aims to unite Democrats in opposing several pro-crypto bills that are currently under consideration in Congress, including the GENIUS Act, the CLARITY Act, and a proposed law aimed […] The post Democrats declare ‘Anti-Crypto Corruption Week’ to counter GOP crypto bills appeared first on CryptoSlate.

House Republicans announced a "crypto week" to consider three digital asset bills starting on Monday, but Democratic leaders are pushing back. The political division in the US Congress over digital assets seems to be deepening as top Democrats in the House of Representatives have announced their agenda following Republicans’ push to address three crypto-related bills starting on Monday. In a Friday notice, House Financial Services Committee ranking member Maxine Waters and the digital assets subcommittee ranking member Stephen Lynch said they would lead Democrats in opposition to Republican efforts to pass what they called “dangerous” legislation. Republican leaders said earlier this month that they would address bills on payment stablecoins, crypto market structure and central bank digital currencies (CBDCs) starting Monday. Read more

The recent vote in the Senate to move the GENIUS stablecoin framework ahead has shown glaring cracks in the Democratic coalition. US Senate Democrats are getting flak after they helped move stablecoin legislation ahead for discussion on the Senate floor. On May 19, 16 Democratic senators broke from the party line to pass a motion to invoke cloture, which will now set the bill up for debate on the Senate floor. Some of the same Democrats had held up the bill in early May when they withdrew support, citing corruption concerns over President Donald Trump’s cryptocurrency dealings. The bill’s opponents hailed lawmakers’ refusal to support it but were soon taken aback when the senators reversed their position. The lightly amended legislation contained no provisions regarding World Liberty Financial, the Trump family’s crypto venture. Read more

The GENIUS Act failed to clear a procedure called cloture after pushback from Senate Democrats, who raised concerns about US President Donald Trump's crypto ventures. The Guiding and Establishing National Innovation for US Stablecoins of 2025 Act, known as the GENIUS Act, failed to pass cloture in the United States Senate on May 8, dealing a slight blow to cryptocurrency regulation in the country. The bill, sponsored by Senator Bill Hagerty and co-sponsored by Senators Tim Scott, Kirsten Gillibrand, Cynthia Lummis and Angela Alsobrooks, received last-minute pushback from Democrats, who took aim at the bill and raised concerns about US President Donald Trump’s cryptocurrency ventures. To address the concerns of Senate Democrats, the bill had already been amended to include stricter requirements for stablecoin issuers for further provisions for Anti-Money Laundering. Read more

The current draft of the GENIUS Act elevates centralized entities in overseeing stablecoins. Democrats should take the right stand against it, says Hermine Wong.

A group of nine Democratic Senators announced that they will withdraw their support for the landmark U.S. stablecoin legislation unless changes are made to the bill. In a joint statement issued on May 3, the Senators noted that there are several issues with the current version of the stablecoin bill known as the Guiding and […] The post U.S. stablecoin regulation could be delayed as pro-crypto Democrats pull support appeared first on CryptoSlate.