Yesterday, U.S. Senator Bill Hagerty appeared on Fox Business’s The Bottom Line to discuss several key topics related to President Donald Trump’s legislative agenda. As a member of the Senate Appropriations and Banking Committees, Hagerty touched upon the Senate’s efforts in confirming nominees and advancing cryptocurrency market structure legislation following the passage of the GENIUS Act.
During his appearance, Hagerty expressed readiness to work through weekends and into the scheduled recess. He addressed what he described as a “communication challenge” regarding public perception of a bill known as the Big Beautiful Bill. According to Hagerty, elements such as extending tax cuts and securing borders are popular with Americans. He noted, “The stock market is at an all-time high… blue-collar wages are back on the rise again.”
Hagerty also discussed staying in Washington for nominee confirmations, citing resistance from Democrats as a hurdle. He stated, “This would not be necessary… were it not for the maximum resistance campaign that the Democrats have put in place.” Despite these challenges, he emphasized progress under President Trump’s administration.
Regarding his market structure bill, Hagerty highlighted pride in his legislation—the GENIUS Act—which aims to open markets for digital currencies in the U.S. He explained its significance: “It brings dollar dominance into the digital arena.” The discussion draft outlines approaches for regulating cryptocurrencies by entities like banks or regulatory commissions.
Finally, Hagerty mentioned seeking industry input on blockchain efficiency benefits with hopes of meeting a target deadline by September’s end. He said this could drive down costs and improve transaction speed: “The efficiency here is enormous.”
