Rep Maxine Waters Slams Crypto Market Structure Bill Calls It Donald Trump’s “Crypto Corruption”
By: cryptosheadlines|2025/05/07 02:30:02
0
Share
Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Tensions rose during a joint House hearing as Representative Maxine Waters strongly objected to a new crypto market structure bill. The legislation, backed by both Republicans and Democrats, aims to define oversight responsibilities in the digital asset sector. Waters, however, described the bill as part of what she called US President Donald Trump’s “crypto corruption.” Maxine Waters Objects Crypto Market Structure BillA heated debate broke out during a joint hearing between the House Financial Services Committee and the House Agriculture Committee. Representative Maxine Waters voiced strong disapproval of the new crypto market structure bill. She criticized the bill’s timing and intent, urging fellow Democrats to walk out of the session in protest.The crypto market structure bill has received bipartisan support, yet Waters argued it could enable unethical financial schemes tied to Donald Trump. “This bill paves the way for what I call Trump’s crypto corruption,” she said during the hearing. Her comments came as lawmakers from both parties continue to work on legislation aimed at bringing clarity to digital asset regulations.Waters’ protest comes just as the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) was preparing to move forward in the Senate. Nine Democratic senators have now voiced their opposition to the bill in its current form. They called for stronger measures on money laundering, foreign influence, and national security.Democrat Senators Withdraw Support for GENIUS ActThe group of senators that withdrew support includes Ruben Gallego, Andy Kim, Lisa Blunt Rochester, and Mark Warner. These lawmakers previously backed the bill during its advancement in the Senate Banking Committee. However, their new statement said the legislation needs more protections.Senator Elizabeth Warren also withdrew her support, raising concerns over a potential financial benefit to Donald Trump through a linked stablecoin. Warren stated, “This legislation risks giving Trump an illegal windfall from his USD1 coin,” as she urged others in Congress to reject it.Democratic co-sponsors Kirsten Gillibrand and Angela Alsobrooks have not signed onto the new statement. Still, the act’s future remains uncertain, with increasing concern over the involvement of private business interests.Donald TRUMP Meme Coin Contest Raises Ethics QuestionsDespite growing objections to the GENIUS Act and the crypto market structure bill, Donald Trump continues to promote a cryptocurrency-linked event. A dinner at Trump National in Washington, D.C., will take place later this month. Entry to the event is based on holdings of the $TRUMP meme token, and the top 220 token holders will be invited.The event has raised ethical concerns from watchdog groups. Accountable.US described the contest as a “corrupt self-enrichment scheme,” warning that it allows wealthy or foreign actors to buy access to US President Donald Trump. The website hosting the contest also features a live leaderboard, showing top participants by token holdings.The $TRUMP token’s developers are reportedly connected to World Liberty Financial, a crypto firm with ties to the Trump family. In addition, Zach Witkoff, son of Trump’s envoy Steve Witkoff, announced at a Dubai crypto event that a UAE-backed fund will invest $2 billion in the USD1 stablecoin, which is competing with Tether. USD1 is issued by World Liberty Financial, which is 60% owned by a Trump business entity.In the joint meeting, critics including Stephen F. Lynch, the Representative from Massachusetts argue that the deal opens the door for foreign financial influence calling it “Shady”. The Trump family is entitled to 75% of revenue from USD1 token sales which has led to questions about how the crypto market structure bill and the GENIUS Act may benefit private entities over public interest.✓ Share: Kelvin Munene Murithi Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.Source link
You may also like

Vitalik Rare Self-Criticism: Ethereum Missed the Really Important Battle
Ethereum can't save the entire world, so what can we do?

SBF's bro turned 225 million into 5.5 billion in one year
Meet the 24-Year-Old AI New "Stock Market Wizard".

These former crypto builders have joined the world's hottest AI project
The Crypto Space Does Not Support Idleness

Key Market Insights for March 5th, how much did you miss out on?
1. Top News: Wall Street's key regulatory agency is moving forward with plans to regulate cryptocurrency and prediction markets
2. Token Unlock: None

Crypto VC Inflection Point: The Survival Answers of a16z, Dragonfly, Paradigm
A sign of the maturing Crypto VC space is no longer a sea of sameness but each finding their own path forward.

Is OKX's $25 Billion Valuation Really Justified?
In theory, OKX has tens of millions of new users to tap into in the United States

SBF's little brother turned 225 million into 5.5 billion in one year
Let’s meet the 24-year-old new "stock god" of AI.

In a World of Disruption, How Can Humanities Workers Better Use AI?
This AI in Practice experience is not about teaching you a few magical keywords to memorize; it's more like a methodology.

Anthropic Open Letter: The Hypocritical Sam Altman, PUA Master
OpenAI's extensive PR rhetoric with the Department of War on these issues is either lying or deliberately creating confusion. These facts reveal a pattern of behavior, a pattern I have seen many times in Sam Altman, and I hope everyone can recognize it

On the same day that Kraken's Fedmaster Account was approved, the banking lobbying group immediately launched a counterattack.
Banking Lobby Group Slams Kraken's Approval for "Limited Purpose" Fed Master Account.

Bitwise: This weekend's attack accelerated the on-chain migration of the financial world
The never-ending market has become a global obsession.

Market Downturn: Which Assets Are Worth Watching?
"Whether it can bring benefits to the holder" is one of the key reference indicators.

The real opportunity of stablecoins is not to kill Visa
In the new merchant ecosystem born in the AI era, stablecoins will become the first widely adopted payment infrastructure.

Trump's AI Farce: Insult if You Don't Pay
Dario's all-hands email is full of ad hominem attacks
US & Canada Crypto Tax Season 2026: Official Tax Reporting Support from WEEX × KoinX
Prepare for US & Canada crypto tax season 2026. Learn how to export your WEEX transaction history and access official reporting support through our partnership with KoinX.

Conversation between Tom Lee and "The Big Short" Author: AI has detected bubble signal, crypto correction due to gold liquidity being "siphoned off"
A real bubble occurs when everyone is absolutely certain that "this is definitely not a bubble."

The true reason for Claude's ban, Kraken accessing the Federal Reserve payment system, What is the English community paying attention to?
What Was Trending in the Last 24 Hours?

「Buying the Dip」 of 400,000 BTC: Is $74,000 a Rebound or a Reversal?
BTC price hits a new monthly high.
Vitalik Rare Self-Criticism: Ethereum Missed the Really Important Battle
Ethereum can't save the entire world, so what can we do?
SBF's bro turned 225 million into 5.5 billion in one year
Meet the 24-Year-Old AI New "Stock Market Wizard".
These former crypto builders have joined the world's hottest AI project
The Crypto Space Does Not Support Idleness
Key Market Insights for March 5th, how much did you miss out on?
1. Top News: Wall Street's key regulatory agency is moving forward with plans to regulate cryptocurrency and prediction markets
2. Token Unlock: None
Crypto VC Inflection Point: The Survival Answers of a16z, Dragonfly, Paradigm
A sign of the maturing Crypto VC space is no longer a sea of sameness but each finding their own path forward.
Is OKX's $25 Billion Valuation Really Justified?
In theory, OKX has tens of millions of new users to tap into in the United States