The Senate's GENIUS Act. Sounds impressive, right? "Guiding and Establishing National Innovation for U.S. Stablecoins." But beneath the shiny acronym lies a nagging question: Whose innovation are we really guiding? And perhaps most importantly, are we doing so at the expense of a whole generation of artists?

Let's be blunt: the elephant in the room is Donald Trump's very public embrace of crypto. We’re speaking meme coins, stablecoins, and an alleged $57 million windfall from token issuance. Then comes the GENIUS Act. It's supposed to regulate stablecoins, but it conveniently ignores potential conflicts of interest arising from the former President's financial entanglements.

Think about that for a second. A bill designed to regulate an industry where a powerful figure has significant financial stakes… but doesn't address those stakes. And here’s where the awe becomes anger. I know that feels like a rigged game too, right? And who gets hurt the most when the game is rigged? The little guy.

Now, zoom out. Picture a young artist in Southeast Asia. Or perhaps they’re in Indonesia, producing amazing digital artwork rooted in their local traditions and selling it overseas as NFTs. They’re using Web3 to eliminate the need for traditional galleries and to raise money directly from collectors and to have ownership of their work. This is the promise of Web3: democratized access, empowering creators, and cutting out the middleman.

What they are supposed to do, when the rules of the game are just not clear. What happens when a powerful figure like Trump can seemingly influence the market with his crypto dealings, while regulations are selectively applied? This imposes a great deal of anxiety and fear on these artists. Will their hard work be devalued? Or will they be left behind as the market prices them out? Or will the very system they’re counting on to help them build their careers be gutted through political gamesmanship?

The GENIUS Act casts a long shadow of doubt on the integrity of the crypto space. In other words, it’s akin to constructing an extraordinary mansion atop a sandy beach. Anger and outrage are justified.

These days, the crypto industry is a big political player in its own right. Image via Coinbase Coinbase CEO Brian Armstrong is pictured here shaking hands with none other than President Donald Trump. Specifically, crypto PACs are pumping millions into political campaigns of politicians like Michigan’s own Senator Slotkin for voting Yes on the bill. We all know good and well, money talks—in Washington it screams.

Is GENIUS Act really about protecting consumers and creating innovation? Are we in this to create a moat around the current incumbents? Or are we instead laying the tracks to benefit those who are already wealthy and powerful?

The question isn't whether stablecoins need regulation. Most people agree they do. The question is, how do we regulate them in a way that is fair, transparent, and truly benefits everyone, not just a select few?

We can’t let these technologies slip through the regulatory cracks—we need smart, fair, inclusive regulations. Let’s put the interests of our newest artists and creators ahead of the interests of big media companies and other political elites. After all, the whole idea behind Web3 is decentralization, democracy and inclusion! As written, the GENIUS Act is lacking on that front.

What can you do? Speak up. Engage in the conversation. Hold your elected officials’ feet to the fire and demand transparency and accountability. Bring out the cavalry. Support organizations that are on the frontlines advocating for common sense, fair and equitable crypto regulation. Learn about the potential downsides and upsides of Web3, and educate your peers. Share your stories.

This isn’t only about crypto. This is about the future of creativity, ownership and economic empowerment. It’s about advancing the idea that the voices of Southeast Asian artists, and artists of all backgrounds, don’t just need to be heard. The Senate’s GENIUS Act Needs To Be Genius For Real. It can’t turn a blind eye to the artists and creators who have been building the future of Web3. Now is the time to hold their feet to the fire and make sure that genuine innovation is served, rather than perverted!

We need regulations that are not only fair but also inclusive, prioritizing the interests of emerging artists and creators over those of powerful corporations and political figures. The very point of Web3 is decentralization, democracy and inclusion! The GENIUS Act, in its current form, fails that test.

A Call to Action for Web3 Artists

What can you do? Speak up. Engage in the conversation. Demand transparency and accountability from your elected officials. Support organizations that are fighting for fair and equitable crypto regulations. Educate yourself and others about the potential risks and opportunities of Web3. Share your stories.

This is not just about crypto; it's about the future of creativity, ownership, and economic empowerment. It’s about ensuring that the voices of Southeast Asian artists, and artists everywhere, are heard. The Senate's GENIUS Act should indeed be genius, but not in a way that forgets the artists and creators who are building the future of Web3. It is time to demand answers and ensure true innovation is served, not corrupted!