Does Jeff Merkley Support Crypto?

Senator Jeff Merkley just scored a rock-bottom 0 for his latest comments framing a potential stablecoin initiative for rebuilding Gaza as inherently "shady" and corrupt. To understand why this is such a negative signal for the industry, we have to look at his track record and how he approaches the technology. Stablecoins are a massive net positive for humanity, offering fast, borderless, and transparent value transfer—exactly the kind of utility needed for complex international rebuilding efforts. If a lawmaker genuinely cares about ensuring these digital assets are used safely, the correct approach is to champion clear regulatory frameworks. Yet, back in June 2025, Senator Merkley voted against the GENIUS Act. That bill was a monumental step forward for crypto, aiming to establish a clear, pro-innovation regulatory framework for payment stablecoins by defining permitted issuers and mandating 1:1 reserve backing. Instead of supporting these necessary rules of the road, Merkley opposed the clarity the industry desperately needs. He has spent the better part of the last year pushing highly restrictive narratives and attempting to pass legislation that paints the entire digital asset space as a grift. By teaming up with other historically anti-crypto lawmakers, Merkley is once again using digital assets as a partisan punching bag. Conflating stablecoin technology with inevitable fraud—while actively fighting against the very legislation that would provide secure, transparent oversight—demonstrates a fundamental hostility toward crypto. We need policymakers who recognize that well-regulated stablecoins are the future of global finance, rather than dismissing the technology entirely to score political points.