This highlights a sudden shift in U.S. legislative support for the GENIUS Act, a pro-crypto bill, after President Trump convinced 11 out of 12 initially opposing representatives, reflecting his growing influence in the crypto policy arena following a failed vote on July 15, 2025, driven by concerns over Central Bank Digital Currencies (CBDCs).
This turnaround comes amid a global trend where 72 countries are in advanced CBDC exploration stages, per the Atlantic Council’s 2025 data, yet U.S. lawmakers’ resistance to CBDCs—fueled by privacy fears—contrasts with Australia’s “Project Acacia” pilot, which tests wholesale CBDC use with real assets, suggesting diverse national strategies.
Trump’s involvement aligns with his administration’s pro-crypto pivot, including a strategic bitcoin reserve announced in March 2025, backed by a $119 million industry lobbying effort in the 2024 elections, challenging the Biden-era crackdown and reshaping U.S. financial policy.
