The GENIUS Act was pitched as a bipartisan breakthrough — offering long-awaited regulatory clarity for crypto markets. It gave Democrats nearly everything they had asked for: stablecoin backing requirements, federal oversight sandboxes, issuer registries, and a framework for digital identity. Yet most House Democrats still voted “no.”
Why?
Because buried inside the bill were strategic power shifts that threatened to reshape the financial landscape — permanently and quietly.
One glaring issue: while the bill barred Congress from profiting off stablecoin infrastructure, it made no mention of the President or executive family members. With Trump-affiliated backers preparing to launch the USD1 stablecoin, this created a potential monopoly wrapped in legal protection — a financial weapon fused with political influence.
Even Republican Marjorie Taylor Greene broke with her party and voted against the bill. She warned it was a disguised framework for a cashless CBDC regime and federal control over private finance. Her stance — often dismissed — echoed concerns from both privacy advocates and decentralization purists: the bill lacked meaningful anti–money laundering enforcement, foreign interference restrictions, or technological accountability.
Had it passed, the GENIUS Act could have quietly handed control of the next financial era to a single political faction — under vague language and minimal transparency.
Democrats didn’t reject the bill because it lacked their values. They rejected it because it handed away their leverage over digital finance. They saw the future being framed without them in it.
In voting no, they may not have slowed the revolution — they may have saved it.
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This article was created with AI assistance and curated by DNIR Staff for accuracy and editorial standards.
