Senate Republicans Can’t Let Trump’s Crypto Momentum Stall

Senate Republicans are in danger of blowing President Trump’s crypto momentum just as it starts to break through.

They face a stark choice: push forward market structure legislation and keep Trump’s pledge to make America the crypto capital of the world on track, or let internal disputes kill the bill and hand Democrats a political win at Trump’s expense.

Market structure reform is a core pillar of Trump’s economic agenda. After the passage of the GENIUS Act, lawmakers were expected to move quickly on clear rules governing digital assets. That framework is designed to give innovators certainty, fuel American innovation, and expand financial opportunity and independence for everyday Americans through digital assets.

House Republicans have made clear the GENIUS Act was never intended to stand alone. Supporters argue that without broader market structure legislation, the law cannot be fully implemented and risks falling short of its goals.

House Financial Services Chair Rep. French Hill underscored that point, warning that the GENIUS Act and market structure legislation are inseparable.

“You cannot sign GENIUS into law and not have a market structure bill promptly considered and passed. They are connected to each other intimately, and the GENIUS Act will not be successfully implemented without a CLARITY market structure bill being passed,” Hill said.

But in the Senate, progress has stalled. The main sticking point is decentralized finance (DeFi), where lawmakers remain divided on the appropriate level of regulation and how such provisions could affect investors and markets.

Legal experts have warned that getting the balance wrong could backfire. LSU law professor Del Wright cautioned against sweeping or poorly drafted rules.

“Poorly written laws could handcuff legitimate innovators while doing little to deter bad actors. Without clear, enforceable rules that directly target fraud and manipulation, digital assets risk becoming a breeding ground for abuse. The best protection for investors is strong anti-fraud enforcement with real penalties for those who deceive customers or distort markets,” Wright said.

But that debate should not be allowed to derail the entire bill.

Republicans should pass the market structure provisions where consensus already exists, strengthening American innovation now, while continuing to work through DeFi questions separately. Sacrificing the entire package over unresolved DeFi disputes is not a principled stand but a strategic failure that blocks the implementation of Trump’s economic agenda.

The political stakes are obvious. Democrats have little interest in helping Trump notch a legislative win. Blocking or indefinitely delaying market structure reform serves their political interests, not the country’s, and gives them another opportunity to attack Trump while deflecting blame for President Biden’s economic failures.

Meanwhile, the clock keeps ticking. Other nations are racing ahead with digital finance frameworks. As Congress stalls, innovation moves overseas and America’s financial leadership erodes, exactly the scenario Trump has warned about.

Senate Republicans need to regain perspective. Delaying market structure reform limits financial opportunity for everyday Americans and weakens the country’s position in global finance. The path forward is straightforward: set aside the most controversial DeFi provisions for now and keep President Trump’s crypto agenda moving.