The post Rep. Waters blocks joint House crypto hearing, cites Trump conflict of interest appeared on BitcoinEthereumNews.com.

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. Just months after taking a euphoric victory lap around Washington to celebrate the new administration, it would appear the crypto industry has a Trump problem.  2025 was supposed to be a historic year for crypto legislation. With a favorable White House and established bipartisan support for policy, lawmakers and industry members expected to have new laws passed before midterm elections.  But, as Ben wrote about yesterday, nine Democrats pulled support for the current version of the stablecoin-focused GENIUS Act. They cited wanting stronger provisions around anti-money laundering and national security, for example.  Then there are concerns over the president’s family’s crypto business endeavors. Thanks to Trump’s memecoin launch in mid-January, tensions have been building since before Inauguration Day. In the months since, World Liberty Financial (the Trump family’s crypto venture) has floated stablecoin plans and recruited investors. Many Democrats, like Financial Services Ranking Member Maxine Waters, insist this is a clear conflict of interest, and lawmakers should not be advancing policy that would directly benefit Trump’s business initiatives. “I am deeply concerned that Republicans aren’t just ignoring Trump’s corruption, they are legitimizing Trump and his family’s efforts to enrich themselves on the backs of average Americans,” Waters wrote in a Tuesday statement after she objected to a planned joint House hearing on crypto.  “Through his crypto businesses, Trump has turned the office of the presidency into a personal money-making machine,” she added.  The comments come after members of the House Financial Services and Agriculture committees gathered this morning for a joint hearing on the newly released crypto market structure bill discussion draft.  The hearing didn’t get very far, though, as Waters objected to the gathering. Because unanimous approval is needed for joint hearings, she was successful…

---

Filed under: News - @ May 6, 2025 8:26 pm