Our nation faces a profound and immediate threat from a predatory, globalist financial scheme. This is the real crisis. I am talking about cryptocurrency. My opposition is not rooted in partisan politics, but in a firm belief that we must protect the United States from this clear and present danger.
These digital tokens, propped up by nothing more than speculation and hype, are a cancer on our financial system. They are the preferred tool for illicit activity, riddled with fraud, and often mined in countries hostile to American interests. The chaos unleashed by figures like Sam Bankman-Fried, whose FTX exchange imploded in a storm of corruption and foreign entanglements, is not an outlier—it is the inevitable outcome of a system with no intrinsic value. So-called “stablecoins” are a ticking time bomb, and the entire ecosystem is a playground for market manipulation that puts the savings of everyday Americans at risk.
This is the fire that needs to be extinguished. Yet, what is the response from Washington? Political theater.
Case in point: H.R. 3573, cynically titled the “Stop TRUMP in Crypto Act.” This bill is a perfect illustration of a political establishment that is unable and unwilling to grasp the scale of the threat. It is a weak, performative gesture that tinkers around the edges of ethics for the political elite while completely ignoring the fundamental dangers that cryptocurrencies pose to the financial stability of our country.
The bill’s narrow focus on conflicts of interest for government officials, while a valid concern, is a dangerous distraction. By treating cryptocurrency as just another asset class to be managed by ethics rules, H.R. 3573 implicitly legitimizes the entire corrupt ecosystem. It’s like passing a law that says bank robbers can’t be government officials, while ignoring the rampant bank robberies happening every day. It’s an absurd and unserious response to a systemic threat.
And on this, both parties are complicit in a staggering failure of leadership. The Democrats offer up hollow, politically-motivated “solutions” like this bill, designed to create headlines, not to protect the public. Meanwhile, the current administration and its allies, in their push for deregulation and a “hands-off” approach, are actively dismantling the few guardrails that exist, creating a welcoming environment for the very risks we should be fighting. They are positioning the government as a partner to an “industry” that should be under outright prohibition.
The American people deserve decisive action to defend our economic sovereignty. We need leaders who will confront the crypto threat head-on, not play partisan games or cozy up to its promoters. This isn’t about scoring points against political rivals. It’s about protecting our nation’s future from a volatile and predatory financial experiment.
REFERENCE: Notable co-sponsors of H.R. 3573 were Rep. Rashida Tlaib and Rep. Al Green. They referred it to the House Committee on Financial Services.
https://www.congress.gov/bill/119th-congress/house-bill/3573/all-info
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