Congress Must Stop Enabling Trump’s Crypto Corruption - Rolling Stone

What the report says

Rolling Stone published a political commentary by Ezra Levin, co-founder of Indivisible, and actor-author Ben McKenzie arguing that Congress should reject the CLARITY Act, a cryptocurrency regulation proposal they say would benefit the industry and President Donald Trump. The July 19, 2026 piece frames crypto policy as a major corruption and campaign-finance issue rather than a narrow technology debate.

According to the authors, Trump’s financial disclosure showed more than $1.4 billion in earnings from crypto ventures last year. They contend that those business ties create an unusually direct conflict as the crypto sector spends heavily to influence elections and federal regulation. The commentary says the industry has already spent nearly $200 million aimed at the 2026 elections, using super PACs and outside spending to shape primaries and policy outcomes.

Levin and McKenzie point to the previously passed GENIUS Act as an example of industry-friendly legislation that advanced with Republican backing and some Democratic support. They argue that critics had warned the measure lacked ethics safeguards to prevent Trump from profiting, and say the CLARITY Act would go further by moving much crypto oversight to what they describe as a weaker regulator.

The authors say the stakes include consumer protection, market integrity and democratic accountability, citing risks from crypto fraud, scams and market collapses. Their central recommendation is political as well as regulatory: Democrats, they argue, should oppose the CLARITY Act, refuse crypto-linked campaign support and challenge an industry they describe as enriching Trump while seeking favorable rules in Washington.