Trump is giving crypto a bad name
Despite these positives, Trump’s corrupt personal crypto ventures have undermined the industry’s legitimacy.
These entanglements have made it harder to pass critical crypto legislation.
The GENIUS Act — which aims to provide comprehensive stablecoin regulation, such as strict reserve requirements for issuers and enhanced consumer protections — passed a Senate vote May 19, but many senators have serious concerns about favoritism and foreign influence stemming from Trump’s personal stake in crypto projects.
While the GENIUS Act strengthens transparency and consumer protections for stablecoins, we need additional legislation that better defines tokens as securities or commodities and allows builders to innovate without the…
