Leadership on the US House Financial Services Committee struggled to find consensus on regulating digital assets due to President Donald Trump’s potential conflicts of interest with the crypto industry. At a June 4 hearing, committee ranking member Maxine Waters expressed concerns that Trump's involvement could lead to personal gain through the proposed Digital Asset Market Clarity (CLARITY) Act. She cited Trump’s high-profile memecoin dinner, suggesting a risk of using non-public information for profit. The CLARITY Act, proposed as bipartisan legislation, aims to provide regulatory clarity for the crypto market but has faced scrutiny from Democrats seeking to investigate Trump's connections with crypto ventures. Concurrently, the House Agriculture Committee discussed digital asset regulation, with concerns that Trump's actions complicate efforts to pass crypto legislation. Bills like the GENIUS Act, which seeks to regulate payment stablecoins, continue to encounter resistance from lawmakers wary of Trump's implications in the legislation.

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