On May 27, 2025, at the Bitcoin 2025 conference in Las Vegas, US Representative Bryan Steil, who chairs the House Financial Services Subcommittee on Crypto, called on lawmakers to refrain from adding “non – germane items” to two key crypto bills. He believes that doing so is impeding the implementation of a regulatory framework for the cryptocurrency industry.
Congress’s crypto proponents hope to pass the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) and a crypto market structure bill before the August recess. Democratic lawmakers had withdrawn support for the GENIUS Act on May 8, citing concerns about President Donald Trump’s crypto activities potentially conflicting with his presidential duties. However, Steil said these concerns are not relevant to the bills themselves. The legislative text focuses on establishing a regulatory framework to enhance the overall market for the benefit of American consumers, innovation, and development.
Steil also acknowledged the efforts of Democratic lawmakers to understand the cryptocurrency industry’s concerns regarding the Biden administration’s regulation and enforcement of the sector. He said that although the political landscape and nature of crypto – related negotiations have changed, over 70 Democrats in the last Congress supported the need for clear crypto rules when the Financial Innovation and Technology for the 21st Century Act (FIT 21) passed the House in May 2024.
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