Trump’s crypto ties ‘add a certain level of challenge’ to passing bills — Coinbase exec
Coinbase chief legal officer Paul Grewal discussed concerns regarding President Trump's crypto ventures and their impact on legislation at the Consensus conference in Toronto. He noted "hiccups" in Congress following the Senate Banking Committee's advancement of the GENIUS Act in March, citing disputes over significant issues within the bill. Grewal indicated that Trump's involvement complicates bipartisan alignment on market regulation. Democrats, including Senator Elizabeth Warren, criticized Trump's World Liberty Financial and its stablecoin, while supporters like Senator Kirsten Gillibrand suggested removing language targeting Trump's ventures. Lawmakers anticipate a Senate vote soon, with assurances that consumer protection and national security concerns will be addressed. The House is also considering a digital asset market structure bill amid pushback from Democrats over "Trump's crypto corruption." Grewal expressed optimism about upcoming developments in stablecoin legislation influencing broader regulatory efforts.
