Bitcoin may be the most famous cryptocurrency on the planet, but in Washington, it’s suddenly the ghost at the party.
This week, lawmakers passed the GENIUS Act, the first-ever U.S. law focused entirely on cryptocurrency. It sets clear federal rules for stablecoins, the digital tokens pegged to the U.S. dollar and used for instant payments. For the first time, crypto has a legal foundation in America.
But here’s the twist: the bill doesn’t mention Bitcoin. And that silence speaks volumes.
From Spotlight to Sideline
For more than a decade, Bitcoin dominated every conversation about crypto. It was the revolution, the protest, the gold 2.0. Politicians warned about it, billionaires backed it, and banks feared it.
Now? The U.S. government just passed the most important crypto law in history, and it didn’t include Bitcoin at all.
Why? Because Bitcoin doesn’t fit the Washington agenda anymore. Stablecoins are the hot new thing in the halls of Congress. They’re pegged to the dollar, designed for payments, and (at least now) tightly regulated. They’re the kind of crypto lawmakers can get behind: useful, tame, and trackable.
Bitcoin, on the other hand, is messy. It’s volatile, anonymous, and built to operate outside the financial system. It doesn’t want approval. It doesn’t ask for permission. And that makes it a problem for lawmakers trying to modernize finance without surrendering control.
Even as Wall Street piles into Bitcoin ETFs and companies like BlackRock embrace it as a long-term asset, D.C. remains silent. Bitcoin is being treated like a relic of crypto’s rebellious past, not part of its regulated future.
A Shift in Crypto Power
The passage of the GENIUS Act is a political pivot. Stablecoins now have rules, protections, and the federal government’s blessing. They’re being embraced by banks, fintech firms, and maybe soon by everyday consumers sending money across borders or paying rent digitally.
Bitcoin, meanwhile, is on the outside looking in. Still popular. Still powerful. But politically orphaned. If this trend continues, crypto’s future may belong to the regulated, dollar-linked digital tokens, and not the decentralized dream that Bitcoin represents. The big question: can Bitcoin stay relevant in a post-GENIUS world?
For now, Bitcoin remains king on Wall Street. But in Washington, it’s rapidly becoming an afterthought. In a town where the rules are now being written, that’s a dangerous place to be.
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