On Friday, the top Democrat on the House Financial Committee, Congresswoman Maxine Waters, declared that next week will be “Anti-Crypto Corruption Week.” This bill aims to prevent US President Donald Trump’s corrupt cryptocurrency ventures. It is presented in response to slam the “crypto week’s” initiative of the GENIUS Act, the CLARITY Act, and the Anti-CBDC bill.
Anti-Crypto Corruption Week in US Slams Trump’s Corruption
In an official notice, Maxine Waters and Congressman Stephen Lynch introduced the “Anti-Crypto Corruption Week” bill, aiming to unite the democrats to block the three crypto regulatory bills set for deliberation in Crypto Week, slated for the week of July 14th.
Both democrats called the bills “dangerous pieces of crypto legislation” and emphasized that these bills would encourage President Trump’s corruption in crypto. Waters reiterated that these bills only aim to enrich Trump, his entire family, and the billionaire insiders in his cabinet at the cost of investors’ protection.
Waters stated–
“These bills would make Congress complicit in Trump’s unprecedented crypto scam – one that has personally enriched himself […] all while defrauding investors.”
Key Highlights of Anti-Corruption Week
Both democrats claimed that crypto ventures linked to Trump’s family are corrupt and have generated over $1.2 billion for the president, which they aim to stop. To block Trump’s crypto crimes, democrats are presenting amendments to block stablecoin bills and the crypto market structure bills. Democrats offered nearly 30 amendments to lessen the harm of the CLARITY Act bill and block Trump from profiting from the expense of crypto bills at the cost of consumers’ funds. The bill also highlighted the risk to consumer protection and stated that the Republican-led anti-CBDC bill will have devastating consequences on Americans’ financial lives.
Conclusion
Congressman Lynch criticized Republican leaders and called them cowards by stating, “My Republican colleagues are eager to continue doing the bidding for the crypto industry while conveniently ignoring the vulnerabilities and opportunities for abuse that exist in crypto.”
Repeatedly, these US leaders have voiced their opinions, confronting Trump’s criminality in terms of cryptocurrency and digital assets in the country. Now, with the anti-crypto corruption bill, the democrats affirmed once again that they are not afraid and will keep reminding the public of the true cost of this corruption.
