Rep. Steil Warns Against Politicizing Crypto Bills With Irrelevant Add-Ons
U.S. Representative Bryan Steil is urging fellow lawmakers to refrain from inserting unrelated amendments into two key pieces of crypto legislation, warning that doing so risks delaying regulatory clarity for the industry.
Non-Germane Additions Slow Crypto Policy Progress
Speaking at the Bitcoin 2025 conference in Las Vegas on May 27, Rep. Steil, a Wisconsin Republican and chair of the House Financial Services Subcommittee on crypto, criticized efforts to attach politically motivated provisions to otherwise focused legislative efforts.
“When legislation is poised to move forward, there’s always a temptation to latch on unrelated items,” Steil told Cointelegraph. “We must resist that urge — on both sides of the aisle.”
Crypto Bills Face Deadline Ahead of August Recess
Proponents in Congress are pushing to pass the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) and a new crypto market structure bill before lawmakers leave for summer recess in August.
Tensions flared when Democratic lawmakers briefly pulled support for the GENIUS Act on May 8 over concerns about former President Donald Trump’s ties to the crypto industry and potential conflicts of interest.
Trump Concerns “Not Germane,” Says Steil
While the GENIUS Act passed a procedural Senate vote on May 20, Steil emphasized that issues concerning Trump’s crypto activities are irrelevant to the bill’s actual content.
“The legislative text is focused on building a functional regulatory framework that supports American consumers and innovation,” Steil said.
Bipartisan Recognition of Blockchain’s Potential
Senator Mark Warner echoed Steil’s sentiment in remarks on May 19, warning that the U.S. must act or risk losing influence over global crypto standards.
“We can’t ignore the fact that blockchain is here to stay,” Warner said. “If we don’t lead, others will — and they maynot share our values.”
Democrats Show Signs of Crypto Engagement
Steil praised Democratic lawmakers for becoming more open to discussions about the crypto industry’s concerns, especially regarding enforcement actions taken under the Biden administration.
Although the previous Financial Innovation and Technology for the 21st Century Act (FIT21) didn’t pass, Steil pointed to it as a positive step that garnered support from over 70 Democrats in Congress.
New Crypto Market Structure Bill Introduced
On May 5, Representatives Glenn Thompson and French Hill introduced a follow-up market structure bill to build on FIT21’s foundation. Steil believes if core legislation is passed, lawmakers will then have room to explore more innovative crypto policy ideas.
“It was a valuable dry run,” he said. “Now we have a real opportunity to shape the future of this market.”