CALIFORNIA – Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced plans to withhold consent for the May 6th joint hearing on cryptocurrency.
Waters explained that by withholding her consent, she effectively blocks the hearing.
The upcoming joint hearing would have discussed a bill to establish a regulatory framework for digital assets in the United States.
Waters said she told Chairman French Hill she would consent to the crypto hearing only if it included provisions to block Trump, his family, and federal officials from profiting off crypto at Americans’ expense.
“Regrettably, Chairman Hill rejected this request,” said Waters.
Waters will host a Democratic hearing instead
President Donald Trump has faced criticism over exclusive dinners offered to top holders of his $TRUMP cryptocurrency, raising concerns about potential conflicts of interest.
Waters said instead of the joint hearing, she will be hosting a Democratic hearing open to the public.
The hearing will include a panel of experts to discuss a path forward for cryptocurrency legislation that addresses Trump’s crypto conflicts of interest.
The Democratic hearing will take place on Tuesday, May 6th at 10:30 a.m. For more information visit https://democrats-financialservices.house.gov/events/eventsingle.aspx?EventID=413325
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