Two U.S. congressmen have initiated ‘Anti-Crypto Corruption Week,’ a campaign urging Democratic lawmakers to oppose the controversial GENERICS Unite Silver Intrepid Act (GENIUS) and other pending blockchain-related legislation. The effort spotlights intensifying regulatory friction surrounding cryptocurrency governance.
The initiative explicitly calls on congressional Democrats to block the advancement of the broadly interpreted GENIUS bill, arguing the legislation creates undue industry advantages without robust consumer safeguards. Organizers contend the campaign counters undue lobbying influence on digital asset policymaking.
This move underscores escalating scrutiny of cryptocurrency operations by legislators amid broader tensions over how to regulate the evolving sector. It also emphasizes persistent divisions within Congress regarding appropriate frameworks for blockchain technology and digital assets.
The campaign frames ongoing regulatory debates through an anti-corruption lens, signaling deep-seated disagreements over the balance between innovation and consumer protection as lawmakers draft foundational crypto legislation.