- President Trump plans to sign major crypto laws by August, according to advisor Bo Hines.
- Senate removes language targeting Trump’s crypto ventures in the stablecoin bill.
- House Democrats launch an investigation into Trump-backed crypto projects over suspected financial misconduct.
President Trump is expected to sign pivotal cryptocurrency legislation by August, as stated by Bo Hines at the Consensus 2025 event. The proposed laws focus on regulating stablecoins and establishing a broader digital asset strategy, including potential Bitcoin reserves.
Meanwhile, House Democrats have initiated a probe into Trump’s digital asset ventures, citing concerns over financial misconduct and potential foreign interference.
Crypto, Politics, and Power: Trump’s Ventures Face Investigation
Bo Hines, a senior White House advisor, has confirmed that President Trump remains committed to signing significant cryptocurrency regulations by August 2025. Speaking at the Consensus 2025 event, Hines emphasized the importance of establishing a comprehensive framework for stablecoins and digital assets. The GENIUS Act, which focuses on stablecoin regulation, is expected to pass the Senate as early as Memorial Day.
Amidst these legislative moves, the Senate has removed language in the GENIUS Act that specifically targeted Trump’s crypto projects. Senators Cynthia Lummis and Kirsten Gillibrand noted that the revised bill now emphasizes consumer protection, bankruptcy safeguards, and ethical practices without singling out Trump’s ventures.
However, the scrutiny on Trump’s crypto dealings has intensified as a group of House Democrats launched an investigation into potential financial misconduct. The probe focuses on Trump-linked projects such as the $TRUMP meme coin and World Liberty Financial, highlighting a $75 million investment by Justin Sun that coincided with a temporary suspension of SEC enforcement against him.
Lawmakers also expressed concerns over the potential use of cryptocurrencies to evade regulations, particularly through Trump’s political fundraising platform, WinRed, and Elon Musk’s America PAC. Both entities are accused of exploiting regulatory loopholes to funnel money into Trump’s campaign, raising questions about transparency and accountability in political fundraising.
The intersection of cryptocurrency and politics is becoming a critical battleground as lawmakers push for greater transparency and accountability in the digital asset space.
“If you’re a good business person, you should be looking at digital assets. This is the next generation of finance.” — Bo Hines, White House Advisor
