Senate Democrats Target Political Crypto Ties With New Bill

Senate Democrats have introduced the End Crypto Corruption Act, which would prohibit sitting presidents, lawmakers, and their families from issuing, endorsing, or profiting from cryptocurrencies, amid concerns over former President Trump's increasing involvement in the sector. This legislative push follows reports of a multi-billion dollar investment from an Abu Dhabi-backed company into a Trump-associated crypto firm, intensifying scrutiny on political ties to digital assets. At the same time, the previously bipartisan GENIUS Act, designed to regulate stablecoins, is now facing Democratic opposition over issues of corruption, national security, and anti-money laundering, leading to a withdrawal of support. Bitwise CIO Matt Hougan warns that without codified Congressional action, recent regulatory advances remain vulnerable to reversal by future administrations. The resulting legislative gridlock has raised fears of a volatile summer for the U.S. crypto market, with investor confidence threatened by the lack of regulatory clarity. Despite some optimism for the industry's future, the current political impasse jeopardizes both innovation and market stability.