U.S. Pushes for Clear, Focused Crypto Regulation
Key Takeaways
The debate surrounding clear and targeted regulation of cryptocurrencies in the United States is gaining momentum. Bryan Steil, Chair of the House Subcommittee on Digital Assets, warns against including unrelated content in crypto legislation. The backdrop is the political debate over current legislative proposals such as the GENIUS Act and the FIT21 bill. The goal is to create a unified and functional legal framework for the crypto market—without political distractions.
Why Clear Crypto Laws Are Necessary
Bryan Steil emphasizes that legislative proposals for regulating cryptocurrencies should not be overloaded with unrelated topics. Such additions could delay the legislative process and hinder the development of a functional regulatory framework. According to Steil, some lawmakers are attempting to incorporate personal or partisan interests into the legislation—an approach he firmly rejects.
Political Tensions Around the GENIUS Act
A current example of this issue is the GENIUS Act, a bill aimed at regulating so-called stablecoins—cryptocurrencies that are pegged to the value of a stable asset like the U.S. dollar. Some Democratic lawmakers withheld their support because they associated the bill with former President Donald Trump’s crypto policies. Steil, however, clarified that this criticism has nothing to do with the actual content of the legislation.
Despite the political tensions, the GENIUS Act passed an important vote in the Senate. This brings a regulatory framework for stablecoins one step closer.
FIT21 as a Foundation for Further Legislative Initiatives
Back in May 2024, the House of Representatives passed the FIT21 bill. It serves as the foundation for a structured regulation of the crypto market. Although the law was not fully implemented in the last Congress, it now serves as a model for new proposals. On May 5, 2025, Committee Chairs Glenn Thompson and French Hill introduced a new draft on crypto market structure, building upon FIT21.
Unified Legislation as the Goal
Steil sees the combination of the Stable Act (his own bill in the House) and the GENIUS Act (in the Senate) as an opportunity for unified legislation. According to Steil, both proposals complement each other and, together with the market structure bill, could pave the way for comprehensive regulation.
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He expects that the implementation of these laws will create an innovation-friendly environment for digital assets in the U.S. This could position the United States as a global leader in crypto development.
Our Assessment
The call for clear and focused crypto laws is understandable. Political side issues and personal interests of individual lawmakers should not delay the urgently needed regulation. The GENIUS Act and FIT21 demonstrate that bipartisan cooperation is possible. If these initiatives can be consolidated, a stable and innovation-friendly legal framework for cryptocurrencies could emerge in the U.S.—a model that may also attract international attention.
Sources
- Bloomberg
- Reuters
- Politico
- The Block
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