President Trump’s signing of the GENIUS Act — a landmark bill to regulate U.S.-backed stablecoins — has sent shockwaves through financial markets, crypto circles, and policy think tanks. For Black America, the question is not whether this is “historic” legislation — the question is whether the outcomes will matter more than the optics.
In the logic of Thomas Sowell, good intentions are cheap; consequences are everything.
The GENIUS Act lays out a framework requiring that all stablecoins be 100% backed by U.S. dollars or similar safe assets. It sets up licensing systems, regulatory clarity, consumer protections, and dual state-federal oversight. The political class calls it a breakthrough. But breakthroughs are only as useful as the people prepared to use them.
Let’s be honest: the communities least likely to benefit from this new digital currency law are those who’ve been left behind by every other financial innovation before it — and that includes large segments of Black America. Without ownership, this legislation becomes little more than another tool to expand the influence of Big Tech and Big Banks under the guise of innovation and inclusion.
If Black entrepreneurs, banks, or fintech startups don’t already have the legal firepower and capital required to launch federally compliant stablecoins, then who will dominate this space? JPMorgan. PayPal. Meta. Google. The usual suspects. The ones who already dictate how our communities bank, shop, borrow, and — increasingly — think.
What’s more troubling is the quiet consolidation of economic power this bill accelerates. As more systems go digital and more payments rely on blockchain-backed coins, the communities that are unbanked, underbanked, or digitally illiterate — disproportionately Black — will fall further behind. They won’t just be left out of innovation; they’ll be priced out of participation.
This is why we must change how we view finance and money in Black culture. Our leaders have failed us. Our pastors have failed us. Finance is not a foreign concept — it is foundational to scripture. King David understood it. King Solomon mastered it. The Proverbs 31 woman knew how to assess goods and conduct trade. Wealth, land, stewardship, debt, equity — these are all biblical principles. Yet we’ve failed to teach them through our faith traditions. We spiritualized poverty and ignored prosperity. And now, as the world pivots to digital assets, real-time transactions, and borderless economies, we are behind — again.
That’s not to say this law offers no opportunity. For those with foresight, discipline, and resources, the GENIUS Act could mark the beginning of a new era. Black-owned financial institutions could explore issuing their own compliant stablecoins. Community investors could pool capital in new, blockchain-secured cooperatives. And cities with high Black populations could use this regulation to power new forms of peer-to-peer banking, credit unions, and remittance systems.
But that would require a culture shift. It would require moving from protest politics to production economics. It would require financial literacy over emotional symbolism, and capital investment over perpetual complaint.
More importantly, it would require us to stop confusing regulation with redemption.
There’s a long pattern in American politics: a new law is passed with great fanfare, and Black America is told it’s a “game changer.” The real game doesn’t change because the same people keep holding the ball. The GENIUS Act, like welfare reform, education funding, or the Civil Rights Act before it, won’t change the balance of power if we don’t control the institutions that shape outcomes.
If Black leaders want this moment to matter, they must stop chasing seats at someone else’s table and start building our own. Technology is just a tool. Stablecoins are just code. But power — economic power — comes from ownership, not access.
Trump’s bill gives us rules. It doesn’t give us wealth. That part is still up to us.
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