- Democrats target GOP crypto bills tied to Trump’s financial interests.
- Lawmakers claim Trump-linked crypto efforts pose national security concerns.
- Proposed legislation could strip vital protections from digital finance sector.
House Democrats have launched a coordinated effort titled “Anti-Crypto Corruption Week” to block Republican-sponsored cryptocurrency legislation they say is tied to millions linked to President Donald Trump.
Led by Representative Maxine Waters and Representative Stephen Lynch, the campaign aims to halt three key bills that Democrats claim would dismantle oversight and benefit Trump’s financial interests.
Democratic leaders have fiercely criticized the targeted bills, the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. Waters says the bill would eliminate vital consumer protections and leave the digital assets sector open to unregulated fraud.
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Waters, the Ranking Member of the House Financial Services Committee, said the bills are in line with what she termed Trump’s crypto scam. Trump has supposedly attracted over 1.2 billion dollars in investments in his ventures.
She warned that the precedent of fast-tracking such measures conveyed a worrying signal that blames Congress for protecting the financial system.
She claimed that the proposals do not include tough regulatory regimes and are intended to benefit political interests instead of the common good.
Waters emphasized that stability and transparency are required in the development of digital financial systems.
Lawmakers Warn of Foreign Influence and National Security Risks
Representative Stephen Lynch, Ranking Member of the Subcommittee on Digital Assets, raised additional concerns about the origin of Trump’s crypto-linked funds. He mentioned much foreign money in the operations of Trump, warning that the relationships may jeopardize the nation, and individuals may have an influence on policies.
Lynch also criticized the Anti-CBDC Surveillance State Act, which prohibits the federal government from researching central bank digital currencies. According to him, it will kill innovation and embolden unregulated players to exploit technology loopholes without regulation.
Both legislators, who introduced the Republican-backed bills, say they erode much-needed protection and risk stripping a swelling financial system of responsibility. They also asked the Congress to vote against the legislature and concentrate on structures that will enhance security, trust, and openness.
“Anti-Crypto Corruption Week” signals a sharp Democratic push to expose financial ties they believe link GOP-backed crypto bills to Trump’s gain. Lawmakers plan to use the campaign to rally opposition and prevent the legislation from advancing.
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