Rep. Bryan Steil Calls for Restraint on Adding Non-Relevant Items to Crypto Legislation

Legislative Focus on Cryptocurrency

U.S. Representative Bryan Steil, a Republican from Wisconsin, has urged his fellow lawmakers to refrain from attaching "non-germane items" to key cryptocurrency legislation. Speaking at the Bitcoin 2025 conference in Las Vegas on May 27, Steil expressed concern that such actions could hinder the implementation of a regulatory framework critical for the burgeoning crypto industry.

"We have to restrain ourselves from that instinct to attach unrelated political scandals or items to bills that are intended to move forward," Steil stated, emphasizing the importance of maintaining focus on the legislation itself. As chair of the House Financial Services Subcommittee on crypto, he highlighted the necessity for both sides of the aisle to collaborate on creating policies that benefit American consumers and the overall market.

Key Legislative Efforts

Currently, Congress is considering the Guiding and Establishing National Innovation for U.S. Stablecoins Act, commonly referred to as the GENIUS Act, alongside a broader crypto market structure bill. Steil noted the urgency to pass these bills before Congress enters its month-long recess in August.

However, the path has not been without hurdles. Concerns regarding the potential conflicts between former President Donald Trump’s crypto ventures and his presidential duties led Democratic lawmakers to withdraw their support for the GENIUS Act on May 8. Despite this setback, the act progressed in the Senate following a procedural vote on May 20. Steil argued that such concerns about Trump are “not germane” to the core objectives of the legislation, which aims to establish a robust regulatory framework for the cryptocurrency market. “The legislative text is focused on putting forth a regulatory framework that strengthens this broader market,” he explained.

Bipartisan Support and the Future of Crypto Regulation

Democratic Senator Mark Warner echoed Steil’s sentiments prior to the GENIUS Act’s advancement, stating the necessity for the U.S. to take an active role in shaping the future of blockchain technology. "We cannot afford to keep standing on the sidelines while the crypto industry evolves,” Warner asserted. He warned that failure to act could result in other nations leading the charge in innovation—potentially in ways that do not align with democratic values.

Steil recognized that there has been a concerted effort among Democratic lawmakers to address the grievances of the cryptocurrency sector, especially in light of how the Biden administration has managed regulation and enforcement. He reflected on the progress made, noting that over 70 Democrats signaled the need for clear and established crypto regulations after the Financial Innovation and Technology for the 21st Century Act (FIT21) passed the House in May 2024. “The FIT21 Act was a great practice run,” Steil commented, despite its failure to pass before the last Congress adjourned. In a bid to build on that groundwork, chairs of the House Agricultural and Financial Services Committees have introduced new crypto market structure legislation aimed at propelling the industry forward.

Conclusion

As the dialogue around cryptocurrency legislation continues, Steil’s plea serves as a reminder of the challenges that lie ahead in crafting effective regulations without succumbing to unrelated political pressures. With the stakes high for innovation and consumer protection in the digital asset space, bipartisan cooperation appears essential for the success of upcoming bills. If successfully enacted, these regulations could pave the way for further exploration of creative and impactful ideas in the evolving world of cryptocurrency.

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