Rep. Maxine Waters blocked a planned joint House hearing on cryptocurrency legislation, citing concerns over a potential conflict of interest related to former President Trump’s business ventures in the crypto space. While the crypto industry anticipated favorable legislation in 2025 due to a supportive White House, opposition has arisen among Democrats. Waters expressed alarm over the implications of Trump’s family's crypto endeavors, claiming they legitimize corruption and allow Trump to profit personally from his presidency. Her objections prevented the hearing from proceeding, which aimed to discuss a new draft bill addressing crypto market structure and stablecoin regulations. Although there have been bipartisan efforts in Congress on crypto legislation, including combining various proposals into a single bill, the current political climate reflects significant challenges ahead. Waters' actions underscore the friction between parties around crypto policy, especially as they navigate issues of regulation and national interests amidst Trump's ongoing influence.

Source 🔗