GOP Lawmakers Warn U.S. Bitcoin Policy Weakness Could Strengthen China’s Dominance

GOP Leaders Sound Alarm on Bitcoin Policy at Las Vegas Conference

Three Republican members of Congress warned that America’s approach to Bitcoin and digital assets could undermine national security and economic competitiveness during a panel discussion at the Bitcoin 2026 Conference in Las Vegas on Monday.

The event, titled “The Bitcoin Bloc: A New Force in American Politics,” featured Reps. Mariannette Miller-Meeks (R-Iowa), Zach Nunn (R-Iowa), and Mike Lawler (R-N.Y.). The discussion was moderated by Faryar Shirzad, Chief Policy Officer at Coinbase.

Miller-Meeks: Bitcoin as ‘Financial Democracy’ and National Security Priority

Miller-Meeks described Bitcoin as a form of “financial democracy” and linked its adoption to America’s upcoming 250th anniversary, framing support for digital assets as a patriotic duty. She highlighted Bitcoin’s potential to empower individuals, particularly women facing domestic violence, by providing financial resources outside government control.

“Digital assets can provide women with resources beyond government reach,” Miller-Meeks said, citing Canada’s trucker protest as an example of government intervention in financial accounts.

She acknowledged concerns among older Americans regarding the safety of digital assets but emphasized their long-term benefits.

Competition with China Drives Urgency in U.S. Crypto Policy

Both Miller-Meeks and Nunn stressed that competition with China is a key driver for U.S. crypto policy. Miller-Meeks noted that while China continues to advance in the digital asset sector, the U.S. remains the best environment for innovation.

“China continues to pursue leadership in the digital asset sector, but the United States remains the best environment for innovation,” she said.

Nunn warned that failing to advance American leadership in Bitcoin and digital assets poses national security risks. He stressed the importance of holding China accountable and cautioned that losing the November midterm elections could reverse 18 months of legislative progress, allowing adversaries to gain ground.

“Decisions and elections have consequences,” Nunn said, pointing to specific anti-crypto Democrats as he discussed the stakes of the upcoming midterm elections.

Lawler Calls for Comprehensive Federal Regulatory Framework

Lawler referenced the GENIUS Act as a positive step but argued that Congress must establish a comprehensive federal regulatory framework for digital assets. He cited Treasury Secretary Scott Bessent’s op-ed in The Wall Street Journal, emphasizing that regulatory clarity would position America at the forefront of the digital asset space.

“SEC regulations should serve the crypto industry’s best interests,” Lawler said.

As a New Yorker, Lawler expressed his desire for the crypto industry to remain in New York and feel secure operating in the state.

Nunn Criticizes ‘Double Taxation’ on Bitcoin Mining

Nunn criticized the double taxation of Bitcoin mining operations, questioning why the U.S. treats Bitcoin mining differently than other forms of asset extraction. He argued that excessive taxation drives innovation to other countries and stressed the need to avoid making it difficult to conduct business in the United States.

Shift in GOP Attitudes Toward Digital Assets

The panel discussion reflected a broader shift in congressional Republican attitudes toward digital assets. Lawmakers framed crypto policy through the lens of geopolitical competition and individual financial freedom, rather than focusing on consumer protection or financial stability concerns.

• Reps. Miller-Meeks, Nunn, and Lawler emphasized Bitcoin’s role in economic competition and national security.
• China’s leadership in digital assets was cited as a key motivator for U.S. policy action.
• Regulatory clarity was identified as essential for maintaining America’s competitive edge.
• Bitcoin mining taxation was criticized for hindering innovation and driving businesses overseas.