During a markup hearing on April 2, California Representative Maxine Waters criticized President Donald Trump's involvement with the crypto industry, specifically mentioning the launch of a stablecoin by a company backed by his family. Waters accused Trump of using his position for personal profit through various crypto schemes, including the creation of a US dollar-pegged stablecoin by World Liberty Financial. She expressed concerns about Trump potentially replacing the dollar with his own stablecoin for government transactions, highlighting the need for safeguards and regulations in the industry. The House Financial Services Committee is considering amendments to the STABLE Act and other bills related to crypto regulation, with lawmakers raising questions about conflicts of interest and insider trading in Trump's crypto ventures.
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Maxine Waters Criticizes Trump's Crypto Ventures at House Financial Services Committee Hearing
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