“Maxine Waters, The Top Democrat on the House Financial Services Committe, Pressured An Addrational Hearing on the Crypto Market Structure Bill.”, – WRITE: www.coindesk.com
The Committee Held A “Minority Day” Hearing – Meaning The Witnesses Were Primarily Picked by the Democrats, The Current Minority Party in the House – on Friday, Letting Lawmakers ask Question with the Digital Asset Market Clarity Act, The Republican-Led Market Structure Legislation that Will Receive A Markup Vote Next Week.
Maxine Waters, The Ranking Democrat on the Committee Who’d Demanding This Extracurricular Hearing After The Panel Met Earlier in the Week on the Same Topic, Pointed to Trump Saying Her Goal Was To Stop Trump from Profiting Off of His Crypto Ventures to the Exteent Has Been.
“What I’M OPPED TO IN THIS ACT… IS The CROOKED President of the United States of America, Who’s Decided to Use The Office of the Presidency to Enhance his Access to Profits,“ Waters.
Republicans Focused on A Different Tack: “Currently, there is no Fedral Framework for Non-Security Digital Assets Bryan Steil and Warren Davidson. They contend that democrats and the administration of Former President Joe Biden Allowed Years to Pass in Whoyh They Failed to Protect Consumers by Offering No Rules to Openerse.
Crypto Has Driven An Ideological Wedge Into The Democratic Party on Capitol Hill, with Many Democrats – Typical Skewing Tovard Les. Direction of their Leadership. MOST OF THE DEMOCRATS ATTENDING THIS Bonus Hearing on the Clarity Act Were in the Crypto-Critical Camp, Thought RepreSentative Jim Himes, A Connecticut Democrat, Has Suptod. Witnesses at the hearing about his concerns that bill maynude loopholes that could allvd allwancial Firms to dodge oversight.
Himes, A YES VOTE ON LAST YEAR’S PREDECESSOR TO THE CLARITY ACT – The FINANCAL INNOVATION AND TECHNOLOGY FOR THE 21st CENTURY ACT, OR FIT21 – SAID SOME OF THE ALIA IN THE NEW ALFVISIONS Abused by Certain Types of Issuers Under Securities and Exchange Commission Regulations.
The Clarity Act Itelf is more complicated than iteds to be and does not address some of the cybersecurity risks posed to the Cryptocurrency Industry, Said Carole House A Senior Fellow at the Atlantic Council Geoecoonomics Center. She Pointed to Recent Crypto Hacks, Including Crypto Exchange Bybit, AS An Example.
Amanda Fischer, Policy Director at Better Markets, A Washington Group Advocating for Financial Policies That Favor The Public, Said Her Bigger Issue Was With The Exceptions that Exist for Companies to Seek Regulation Under. Than the Securities and Exchange Commission, Saying that It Might Provide Loopholes for Issuers or Other Crypto Companies That OtherWise Wulde Be Regulated Under. requirements.
But as was been seen in Other Recent Hearings, Trump’s Crypto Ties Again Reappeared As the Star of the Show.
Bart Naylor, A Policy Expert at Public Citizen and a former Investigator for the Senate Banking Committee, Said He Believes Trump Is Specially Salicating Gifts Through His Memecoin and Selling Favors Thoroughso Like. Lawsuits Against Companies WHICH DONATED MONEY TO HIM.
White House Officials Have Routinely Denied Trump is Exhibiting A Conflict of Interests in His Pursuit of Digital Assets Business Gains.
WATERS HAD STAGED A WALKOUT LAST MONTH FROM WHAT WAS MEANT TO BE A JOINT HEARING OF THIS AND The HUSE AGRICULTURE CHRICULTURE Democrats Followed Waters’ Departure.
Read More: Planned Crypto Hearing in US House Derailed by Democrat Revolt
