It was “Crypto Week” on Capitol Hill where the House of Representatives advanced a trio of Donald Trump–backed bills, which established first-ever rules around stablecoins and could lend more legitimacy to the Wild West industry. It was a win for the industry, and for Republicans, who once again fell in line behind the president. “The CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act deliver on President Trump’s vision to make crypto a core pillar of the US economy and ensure America remains the global leader in this dynamic industry,” House Speaker Mike Johnson wrote on X on Thursday.

But Maxine Waters, ranking member of the House Financial Services Committee, was less optimistic when I got her on the phone late…