U.S. Lawmakers Discuss Crypto Market Structure Bill Amid Trump Controversies
The U.S. House of Representatives is advancing legislation for crypto market regulations amid bipartisan support but facing Democratic concerns over potential conflicts of interest involving President Trump.
- Hearings held by the House Financial Services and Agriculture Committees reviewed the Digital Asset Market Clarity Act.
- Republicans argue the bill is necessary to prevent crypto innovation from moving overseas.
- Democrats express that the bill is rushed and lacks adequate consumer protections.
- Accusations of Trump's corruption in crypto dealings are at the forefront of Democratic critiques.
- Representative Jim Himes insists on strong consumer protections, linking them to his voting support.
- Critics warn the bill may create loopholes for existing securities firms and undermine traditional securities regulations.
- Next week, the Clarity Act will undergo markup discussions, with a possible date set for June 10.