Trump’s Crypto Ties Complicate US Regulatory Progress

Coinbase legal chief Paul Grewal addressed the challenges posed by former President Donald Trump’s involvement in the cryptocurrency market to congressional efforts regarding stablecoin regulation. Speaking at Consensus, he pointed out that these actions are creating a ‘complicating factor’ for the Senate Banking Committee’s vote on the GENIUS Act. While acknowledging the need for addressing ‘substantial issues’ related to the bill, Grewal hinted that Trump’s involvement in crypto projects like memecoins could hinder bipartisan agreement on a stablecoin regulatory framework.