Congress Launches Anti-Crypto Week Targeting Bills

Lede: Maxine Waters and Stephen Lynch announced “Anti-Crypto Corruption Week” starting July 12, 2025, in Washington, D.C., urging Democrats to block GENIUS and CLARITY bills.

Opposition to Crypto Bills

The congressional initiative opposes three crypto-related bills, emphasizing risks to national security and investor protections. Maxine Waters and Stephen Lynch have a history of financial oversight, focusing on closing regulatory gaps in digital finance. Both advocate tightening rules around stablecoins and DeFi protocols to mitigate potential risks. The effects of these bills, if passed, concern many industry participants.

“Aside from lacking urgently needed consumer protections and national security guardrails, these bills would make Congress complicit in Trump’s unprecedented crypto scam—one that has personally enriched himself, his entire family, and the billionaire insiders in his cabinet, all while defrauding investors.” – Maxine Waters, Congresswoman, House Financial Services Committee

Waters specified concerns about Trump’s crypto involvement potentially enriching his circle by $1.2 billion. The GENIUS and CLARITY acts are central to this conflict, potentially re-defining how ETH, BTC, and stablecoins are regulated. Critics argue these changes could undermine traditional financial guardrails.

Market Impact and Reactions

Immediate reactions from major cryptocurrency exchanges and developers remain limited. Government entities, including the SEC, have not issued recent statements. Historically, similar legislative efforts have impacted crypto markets, prompting debates and revisions. The emphasis on regulatory clarity aims to protect consumers, although achieving consensus remains challenging. Analyzing past data, periods of regulatory uncertainty often correlate with heightened market volatility. Stablecoins and DeFi projects previously faced scrutiny during similar legislative debates. As regulations evolve, tracking changes remains vital for stakeholders across all levels of the crypto ecosystem.