Congresswoman Maxine Waters Fights “Corrupt” Crypto Bills Tied to Trump
2025-07-15 17:35:50
Main Idea
Congresswoman Maxine Waters opposes the CLARITY and GENIUS Acts, arguing they undermine SEC oversight and national security, while linking the bills to former President Trump's crypto-related financial gains.
Key Points
1. Rep. Maxine Waters criticizes the CLARITY Act for limiting the SEC's ability to protect against fraud, citing risks similar to the FTX collapse.
2. The GENIUS Act is opposed for lacking clear oversight mechanisms, according to Waters.
3. Waters links the bills to former President Trump, claiming they could 'legalize crypto corruption at the highest level' and references $620 million in crypto-related gains tied to him.
4. The House Rules Committee advanced four crypto bills, including the CLARITY Act and GENIUS Act, for full House debate during 'Crypto Week'.
5. Waters and Rep. Stephen Lynch announced 'Anti-Crypto Corruption Week' to counter the Republican-led push for the bills, urging Democrats to vote against them.
Description
House Rules Committee approved debate on four major crypto bills, setting up votes from July 15 to 18. Rep. Maxine Waters opposes the CLARITY and GENIUS Acts, citing risks to SEC oversight and national security. Waters links crypto legislation to Trump’s $620 million crypto ties, calling it a conflict of interest. A major political battle has erupted over the future of U.S. crypto regulation as Representative Maxine Waters, the lead Democrat on the House Financial Services Committee, has slammed...
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