The representative of California Maxine Waters, a ranking member of the US House Financial Services Committee, used her statement opening at the trial at the marker to criticize business and ethical entanglement of President Donald Trump in the cryptographic industry, including the launch of Stablecoin by the family company.
Turning to the legislators at the hearing on April 2, Waters he said Trump used his position as a president to operate “many cryptographic programs” for profit, including Stablecoin from an American dollar spent by World Liberty Financial (WLFI) -Firma supported by his family.
The California legislator pointed to Memecoin Trump started in January, his plans to establish national cryptocurrency stocks and “his own Stablecoin”, referring to the WLFI token in March.
Rep. Maxine Waters turning to the House Financial Service Committee on April 2. Source: GOP financial services
“Thanks to this Act, Stablecoin This Committee establishes an unacceptable and dangerous precedent, confirming the efforts of the president and his outside to write the rules of the road that will be enriched at the expense of everyone,” said Waters, adding:
“Trump probably wants the whole government to use Stablecouins from payments made by the Department of Mieszkanie and Cities Development, to pay social insurance, to pay taxes. And what is the coin, of course, his own.”
Waters does not stand alone in his criticism of Trump’s cryptocurrencies, and many legislators and experts in the entire political spectrum suggest potential conflicts of interest.
Apparently he said The fact that the involvement of the Trump family in the industry makes the rules “more complicated”.
“If there is no effort to block the President of the United States of America before having his activity Stablecoin […] I will never be able to agree to support this bill and ask other members not to be factors, “said Waters.
Related: Crypto has a problem with regulatory capture in Washington – or?
Representative Bryan Steil, who introduced the transparency and accountability of Stablecoin for a better book economy or a stable act, did not immediately deal with Waters’s fears regarding Stablecoin Trump, but referred to the establishment of security for consumers.
Hill did not mention Trump in his opening statement, but said that there must be a “bright federal frame” for Stablecouins payments.
Cryptographic legislation pass through the Congress
The Committee will consider changes in the stable act, as well as bills to combat illegal finances by means of fresh financial technologies and blocking the US government before issuing the currency of the digital Central Bank or CBDC.
The trial to markers was an indispensable step before the committee could vote on whether to make bills to the House of Representatives.
Warehouse: Trump’s crypto projects are raised by a conflict of interest, questions about trade in confidential information
