Trump’s crypto ties adds a certain level of challenge ‘to the passage of bills – Coinbase Exec

Coinbase’s legal official Paul Grewal spoke to some of the concerns raised by US lawmakers and industry leaders around President Donald Trump’s adventures, and how they would affect the relevant law.

Speaking at the Consensus Conference in Toronto on May 15, Grewal said there were “hiccups” in Congress since the Senate Banking Committee vote to move forward The guide and establishment of national change for the US Stablecoins, or Genius Act, in March. Although Grewal said there were misunderstandings on the “big issue that had to be addressed” on the bill, he said Trump’s involvement in the industry was a “complex factor.”

“The discussion around the president’s support for a specific memecoin or two and other efforts adds a certain level of challenge to trying to get Democrats and Republicans in line with the right way to fix the (spot market), but I’m confident that the Senate and the Chamber will classify everything,” Grewal said.

Democrats including senator Elizabeth Warren have clearly called the adventure of the Trump family, World Liberty Financial, and the USD1 Stablecoin in opposition to the Genius Act. However, some of the supporters of the bill, such as Senator Kirsten Gillibrand, have suggested an earlier version of the law, said they will remove the language Particularly target is the adventures of the President’s crypto.

Related: Democrats demanded fiery -suspected activity reports linked to Trump Crypto ventures

Regardless of the terms for changes to the bill may, many lawmakers still expect the Senate to get another vote within a few days. Punchbowl reported On May 15 when Democrats “won major successes” after receiving assurances that some of their concerns around consumer protection, anti-money laundering, and national security protections would be met.

https://www.youtube.com/watch?v=sumyysrjvzm

First stablecoins, then a market structure bill?

The House of Representative also considers the draft law for a digital bill of asset market structure, a peculiar repetition of the Fit21 bill that The room was passed In May 2024. Democratic representatives were similar pushed back to the lawciting the “Corruption of Trump’s crypto.”

“I think we can learn a lot from the development we see in the next few days in Stablecoins in appetite that really deal with all of these problems in any schedule resembling one who has been laid out before the White House and some Congress leaders,” Grewal said.

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