Trump’s Memecoin Delay Sparks Crypto Chaos, Stalling Key Legislation in Senate:
Cardano founder Charles Hoskinson has pointed out that the launch of Donald Trump’s memecoin has thrown a wrench into the Digital Asset Market Clarity Act, delaying its momentum in the Senate. Hoskinson argued that the timing of Trump’s entry into crypto transformed what was meant to be a technical market structure debate into a politically charged issue. As a result, the legislation has faced setbacks, with delays hampering its progress and causing a sharp split in Washington over how cryptocurrencies should be regulated.
According to Hoskinson, the TRUMP memecoin, launched just before the bill’s expected passage, heavily politicized the discussion surrounding the Clarity Act. He stressed that while Trump has every right to release a memecoin, his role as a high-profile figure has clouded the legal clarity that the bill was meant to provide. Instead of focusing on market structure, the bill has become a battleground for partisan politics, stalling its momentum in the Senate.
While the Clarity Act received overwhelming support, with 77 Senate votes, the continued delays have frustrated bipartisan efforts to finalize the bill. The launch of Trump’s memecoin, which has since plummeted by over 93% from its peak, provided ammunition for critics who framed the legislation as self-serving. This has added more complications as Congress grapples with the larger issue of cryptocurrency regulation.$BTC $ZEC $LUNC
