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Trump’s Crypto Ties Pose Challenge for Stablecoin Legislation, Says Coinbase Exec
📍 Coinbase legal chief Paul Grewal says President Trump’s growing presence in crypto adds “a certain level of challenge” to bipartisan progress on digital asset legislation.
As the U.S. Senate prepares for another vote on the GENIUS Act — a stablecoin-focused bill aimed at regulating the digital dollar landscape — Coinbase Chief Legal Officer Paul Grewal has flagged President Donald Trump’s personal ventures into crypto as a complicating factor in building bipartisan consensus.
Speaking at the Consensus conference in Toronto on May 15, Grewal acknowledged that recent political tensions and concerns from both parties, especially Democrats, are slowing progress.
“The discussion around the president’s support for a certain memecoin or two and other efforts does add a certain level of challenge to the effort to get Democrats and Republicans aligned,” Grewal noted. Still, he expressed confidence that both chambers of Congress would “sort all that out.”
🏛️ GENIUS Act Still Moving Forward
Despite the friction, lawmakers remain poised to vote on the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in the coming days.
Recent reports suggest that Democrats were able to secure key revisions to the bill that include:
- Consumer protection enhancements
- Anti-Money Laundering (AML) safeguards
- National security provisions
Senator Kirsten Gillibrand (D-NY), one of the bill’s original sponsors, previously confirmed that language directly referencing Trump’s crypto ventures — including World Liberty Financial and the USD1 stablecoin — had been removed to help revive bipartisan support.
⚖️ Crypto Politics and Regulatory Headwinds
President Trump’s increasing crypto footprint — including meme coins, a stablecoin project, and a mining company — has triggered strong reactions on Capitol Hill. Prominent Democrats such as Senator Elizabeth Warren have pointed to these ventures as potential ethical hazards.
Grewal acknowledged that political entanglements may delay efforts to develop a comprehensive regulatory framework for stablecoins and the broader crypto market but emphasized that legislative momentum is still building.
“We’re going to learn a lot in the next few days about the appetite in Congress to move forward,” he said.
🧱 What’s Next?
After stablecoins, attention may shift toward a crypto market structure bill currently under review in the House. That bill builds on the FIT21 Act passed in 2024 and could face similar partisan scrutiny tied to “Trump’s crypto corruption,” according to some Democratic representatives.
Still, Grewal and other industry leaders are hopeful that the recent adjustments to the GENIUS Act will unlock further bipartisan cooperation as crypto regulation becomes a key legislative issue heading into the 2026 midterm elections.
@ Newshounds News™
🔗 Source: Cointelegraph
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Central Bank of Russia Ranks Bitcoin as Top Global Investment Since 2022
📊 Bitcoin outpaces gold, stocks, and bonds with a 121.3% return, according to the Russian central bank.
In a move that underscores Bitcoin’s rising credibility on the world stage, the Central Bank of Russia has officially recognized Bitcoin as the top-performing global investment since 2022.
A new report from the bank shows that Bitcoin delivered:
- 38% returns over the past 12 months
- 121.3% cumulative return since 2022
This places it well ahead of traditional assets such as:
- Gold
- Equities
- Bonds
- The S&P 500 index
📉 Volatility Still a Factor
While Bitcoin outperformed all other assets, the Russian central bank also acknowledged its short-term volatility. Between January and April 2025, Bitcoin experienced a drop of 18.6%, underperforming most other asset classes.
The only assets that fared worse during this stretch were:
- Dollar-denominated savings
- The S&P 500
However, Bitcoin rebounded strongly in April, posting an 11.2% monthly gain, once again pulling ahead in the global investment race.
🚀 From Speculative to Strategic
The report highlights Bitcoin’s evolution from a speculative asset to a serious contender in global investment portfolios. Since 2022, Bitcoin has surged from under $20,000 to nearly $110,000, driven by:
- Institutional adoption
- Regulatory milestones
- Approval of spot BTC ETFs in the U.S. and Hong Kong
Even political factors are fueling this growth. President Donald Trump’s pro-crypto shift has added momentum to Bitcoin’s narrative as a strategic reserve asset.
🌍 Global Recognition and Adoption
Countries and companies alike are responding:
- Ukraine and Kyrgyzstan are exploring digital assets at the national level.
- Financial giants like Cantor Fitzgerald are integrating crypto strategies into broader financial operations.
Bitcoin is increasingly being viewed as:
- A hedge against macroeconomic risk
- A tool for expanding global financial access
- A potential long-term store of value, despite volatility
🔍 Summary
The Central Bank of Russia’s findings place Bitcoin squarely in the spotlight—not just as a volatile crypto asset but as a top-tier global investment with increasing legitimacy across the financial world.
@ Newshounds News™
🔗 Source: CryptoSlate
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