Top Democrats in the US Congress, including Maxine Waters and Stephen Lynch, are opposing Republican efforts to pass three crypto-related bills. The bills focus on stablecoins, crypto market structure, and central bank digital currencies. Republicans are pushing the bills, but face opposition from Democrats, making it uncertain if they will pass.

The GENIUS Act, aimed at regulating stablecoins, has already passed in the Senate. However, debates around crypto legislation often involve discussions about US President Donald Trump’s crypto ventures. Trump reportedly made around $620 million through investments in the crypto industry, raising concerns about potential conflicts of interest.

The three crypto bills at issue include the GENIUS Act, the Anti-CBDC Surveillance State Act, and the CLARITY Act. White House crypto adviser Bo Hines expects the GENIUS Act to pass without amendments, while efforts to pass a crypto market structure bill are shifting to the Senate. A market structure bill would clarify the roles of financial regulators like the SEC and CFTC.

House Financial Services Committee Chair French Hill stated that the House will vote on the market structure bill, with plans to involve Senators Scott, Lummis, Gillibrand, and Hagerty. The bill aims to provide more authority to the CFTC for the registration and regulation of digital assets. This move could impact the regulatory landscape for digital assets in the US.

Read more at Cointelegraph.com

Bitcoin reached a new all-time high of $64,863, fueled by growing adoption among institutional investors and increased interest from retail traders. The cryptocurrency market cap now exceeds $1.2 trillion, with Bitcoin accounting for over half of the total value. Ethereum also hit a record high of $2,500.: Democrats Push Back On Crypto Bills With ‘Anti Corruption Week’