Bit360

06/10 02:19

Crypto bill in the US caused a storm of reactions

Crypto bill in the US caused a storm of reactions – here's why

A recent congressional hearing aimed at speeding up regulation of digital assets has become a political controversy after lawmakers questioned whether President Donald Trump could personally benefit from the proposed CLARITY Act.

What started as a discussion about the structure of crypto markets quickly escalated when Congresswoman Maxine Waters accused Trump of having undisclosed business ties to the industry – specifically through organizations like World Liberty Financial, a crypto platform allegedly linked to his inner circle.

She said the bill could pave the way for the president to use regulation for personal gain, potentially putting taxpayer money “in his digital wallet.”

Amid these concerns, members of the Democratic Party have called for a formal investigation into Trump’s financial ties to crypto businesses.

Former CFTC Chairman Timothy Massad supported the initiative, warning that any regulatory framework that is not transparent about political connections will damage trust in the sector.

Waters also raised concerns about national security risks, criticizing the bill for failing to address fraud and protect retail investors. Despite strong opposition, the CLARITY Act is expected to be introduced to the committee by June 10.

While another bill – GENIUS, aimed at overseeing stablecoins – has already been passed, the latest discussion suggests that crypto regulations may be shaped largely by both politicians and broader market trends.

#Share Your Thoughts on Popular Assets in June#Check In to Win a 20g Gold Bar#Claim1,200 USDT in the Monthly Creation Challenge

31Partager