The GENIUS Act Showdown: Trump's Crypto Agenda Faces GOP Resistance

President Trump is working to restore the global leadership of the US in digital currency and blockchain innovation, which was hindered by the Biden administration. The success of Trump's efforts will determine if the US dollar remains the global standard. A bipartisan bill, the GENIUS Act, would allow the private sector to create stablecoins pegged to the US dollar, which would extend the reach of the US dollar and strengthen its value. The Trump administration wants to pass the GENIUS Act before China's stablecoin legislation goes into effect this summer. However, some Republicans are proposing amendments that could kill the bill, including linking it to the Credit Card Competition Act, which would benefit big box stores, and capping credit card interest rates at 10%, which would harm low-income Americans. Vice President JD Vance wants the bill to pass clean without these amendments. The passage of the GENIUS Act is crucial to beating China in the digital currency race, and Republicans should recognize what's at stake. Trump has been dismantling the Biden administration's war on crypto and is working to create a Strategic Bitcoin Reserve, affirming the US commitment to leading on crypto policy. Republicans should stop obstructing the president's agenda, which would give China the upper hand.