The U.S. House of Representatives initiates "Anti-Crypto Corruption Week": Democrats oppose the GENIUS and CLARITY bills, Trump enriches himself!

The US Congress is simultaneously staging a showdown between "Crypto Week" and "Anti-Crypto Corruption Week." The Republicans are advancing three bills: "GENIUS," "CLARITY," and "Anti-CBDC," while the Democrats are waving the anti-corruption flag, questioning Trump’s profits from meme coins, igniting conflict between the two sides. (Background: SEC's new chair Paul Atkins: will fully support crypto innovation and provide clear regulatory rules) (Context: Trump’s "Big and Beautiful Act" narrowly cleared, IMF warns: US deficit debt crisis worsening) On July 11, the US Congress staged the showdown between "Crypto Week" and "Anti-Crypto Corruption Week." According to reporter Eleanor Terrett, the Republicans are advancing the three bills: "GENIUS," "CLARITY," and "Anti-CBDC," while the Democrats are waving the anti-corruption flag, questioning Trump’s profits from meme coins, igniting conflict between the two sides. News: To counter the GOP’s "Crypto Week," Reps. @RepMaxineWaters and @RepStephenLynch are launching "Anti-Crypto Corruption Week," rallying Democrats to block the GENIUS Act, CLARITY Act, and Anti-CBDC bill — warning they pave the way for what they call Trump’s crypto corruption. NEW: To counter the GOP’s "Crypto Week," Reps. @RepMaxineWaters & @RepStephenLynch are launching "Anti-Crypto Corruption Week," rallying Dems to block the GENIUS Act, CLARITY Act & Anti-CBDC bill — warning they pave the way for what they call Trump’s crypto corruption. pic.twitter.com/kpT6JpTEKx — Eleanor Terrett (@EleanorTerrett) July 11, 2025 Policy Collision on the Same Day The Republicans advocate for lowering thresholds, making the US a crypto hub; Democratic Congress members Maxine Waters and Stephen F. Lynch accuse the three bills of "opening the door to corruption," emphasizing the need to raise consumer protection, anti-money laundering, and public conflict of interest thresholds. Elizabeth Warren further warns, "loopholes will bring volatility into TradFi." Regulatory Concept Fractures Surrounding the "GENIUS" stablecoin reserve requirements, "CLARITY" regulatory responsibilities, and "Anti-CBDC" banning Central Bank Digital Currency, the two parties are fiercely at odds. The Democrats have proposed nearly 30 amendments, but most were rejected in Republican-dominated committees, leaving only symbolic provisions; additionally, some district lawmakers have shifted to support friendly bills due to industry pressure, complicating the lines further. Online Debate Regarding this issue, some netizens have criticized the anti-crypto approach on the X platform, questioning whether "anti-corruption might be overcorrecting and stifling innovation?" However, some users on Reddit plainly stated, "Politicians profiting unchecked, finally someone took action." "Crypto Week" will begin intensive voting on July 14, the outcome will not only determine the regulatory path for the US but will also serve as a sample for global observation of the intersection of fintech and political power struggles. Related Reports Circle applies for a US trust bank license: self-custody of USDC, a key step into federal regulation. Crypto mom criticizes SEC regulation: American companies are like playing a game of "the floor is lava," they should build bridges for the industry. Crypto mom Hester Peirce lists the SEC's cryptocurrency working group's "top ten priorities," revealing the new landscape of US regulation. <The US House initiates "Anti-Crypto Corruption Week": Democrats oppose the GENIUS and CLARITY bills, Trump is profiting!> This article was first published on BlockTempo, the most influential Blockchain news media.