The GENIUS Act. A title that oozes with sarcasm, huh? Greenlighting and Setting National Standards for the Issuance of U.S. Stablecoins Act of 2025. Sounds benevolent. Sounds… well, genius. Let’s get real, how many times has a government bill actually done what it’s called? Particularly so when it comes to something as disruptive and liberating as cryptocurrency.

We’re looking at a future where, like or not, digital money is definitely here to stay. And Washington, just as predictably, wants in on the action. Fine. Regulation isn't inherently evil. So far, so good, but the devil, as always, is in the details. By passing the GENIUS Act today, you can help bring about a whole new era of financial empowerment. On the flip side, it could ensnare us in a techno-utopian dystopia of algorithmic oversight.

Freedom Or Financial Fortress?

At the heart of it all is the topic of stablecoins. These digital assets, which are pegged 1-to-1 with the US dollar, signal a thrilling future. Picture this, near-instant transactions with a negligible fee, where borders don’t matter and everyone has access! Picture being able to send money instantly to your family members abroad, without having remittance services like Western Union ripping you off. Consider the impact of micro businesses taking payments anywhere in the world without the predatory rates of legacy payment firms. This is the promise.

After that arrives the call for consumer protection. The justification for the GENIUS Act. We’re told it’s all in the name of protecting us from scams, volatility, and the overall Wild West of the crypto market. And yes, there are scams. Plenty of them. We’ve all read the headlines, the tragic tales of folks losing their life savings to fly-by-night crypto operations. It's awful.

Really, the solution is to just give Uncle Sam the keys to our digital wallets?

Here's an unexpected connection for you: Remember the Patriot Act? You know, when it was marketed to us as the necessary evil that would keep us safe from the terrorists. It wasn’t long before it was repurposed for all kinds of domestic surveillance. Amazingly enough, none of it had anything to do with terrorism.

I’m honestly concerned that the GENIUS Act might be the Patriot Act of the crypto space.

They raised the concern that consumer protection is really just a front for unnecessary regulation. Absolutely. Yet, at the same time, could it be that this is used as a diversive smokescreen for what’s more insidious? Another means for our government to track and dictate our financial futures in ways we’re too naive to imagine? To limit creativity and entrepreneurship in the name of trying to maintain equilibrium?

Marginalized: Helped Or Harmed?

This is where things get particularly dicey. The foregrounds GENIUS Act’s potential to help stabilize stablecoins, making them a safer choice for regular Americans to use. What about the people who are not “everyday Americans”? What about the unbanked? The underbanked? The marginalized communities who use crypto specifically because they’ve been excluded from the mainstream economy?

Cryptocurrency, after all, is not a speculative investment for many. It's a lifeline. It’s easy to send remittances, it’s easy to access credit. This way, you can benefit from the global economy, without falling victim to predatory lending sharks and redlining banks.

GENIUS Act the ally these communities need? Or, on the contrary, will it drive them even more to the margins by putting rules in place that make it harder for them to access and use cryptocurrency. Or, will it instead erect new fences that advantage the already big and entrenched financial players? This will have a chilling effect on smaller, more innovative players.

Think about it like this: imagine a small village in a developing country where access to traditional banking is limited. Cryptocurrency allows these villagers to exchange goods and services with the outside world. It opens doors to microloans and builds their own local economy. As introduced, the GENIUS Act would create daunting barriers – if not outright prohibitions – to these villagers using stablecoins. Without access to stablecoins, their limited economic freedom would be lost overnight.

A 'Clean' Bill: Really That Clean?

The story illustrates the continuing debate over changes to the legislation. It more specifically hones in on steps to try to attach the Credit Card Competition Act. As we explained here, those amendments have serious flaws of their own. The push for a “clean” GENIUS Act has even more worrisome implications.

The Trump administration’s support for the bill was surprising to many, yet another complication is added. Though Trump has tried to present himself as a savior to the crypto community, his motives are never above board. So, is he really serious about innovation? Or is he merely looking for another avenue to puff up his own power and control?

The GENIUS Act is a big beautiful and bold vision that reflects the values and priorities of its creators. Like any bill, it reflects their values and priorities. At this particular moment in time, those values and priorities are clearly lopsided towards control over freedom.

Digital money is here to stay. That much is certain. Whether it’s used to empower people or control them is entirely up to us.

We need to demand transparency. So we really, really have to examine each line of this bill closely. And we must raise our collective voices while there’s still time. Contact your representatives. Remind them that you’re all for regulation, but not if it tramples personal liberty and hurts consumers’ financial freedom. Remind them that you want to see cryptocurrency used to empower marginalized communities, not to disenfranchise them.

The future of money is at stake. What that future looks like and whether it will be characterized by freedom or control is up to us. Don’t allow the GENIUS Act to succeed as a Trojan horse for government overreach.

The future of money is at stake. And it's up to us to decide whether that future will be one of freedom or control. Don't let the GENIUS Act become a Trojan horse for government overreach.