In a bold move to counter the Republican Party’s planned “Crypto Week,” Democratic lawmakers Maxine Waters and Stephen Lynch have announced the launch of “Anti-Crypto Corruption Week” on Capitol Hill. The announcement comes in response to the GOP’s mobilization to pass crypto legislation, which the Democrats view as dangerous and potentially corrupt.
Waters and Lynch specifically called out the CLARITY Act and the GENIUS Act as pieces of legislation that they believe could pave the way for what they describe as Trump’s “crypto corruption.” They argue that these bills lack essential consumer protections and national security guardrails, and could potentially benefit President Trump and his inner circle financially while defrauding investors.
The lawmakers also raised concerns about Trump’s involvement in the crypto industry, particularly his ties to World Liberty Financial and the launch of his own memecoin, $TRUMP. Critics worry that Trump-affiliated cryptocurrencies could be used unethically, allowing anyone – including foreign governments – to purchase and hold the coins.
Congressman Lynch emphasized the need to address vulnerabilities and opportunities for abuse in the crypto industry, especially in light of President Trump’s alleged conflicts of interest and acceptance of investments in his family’s crypto business from foreign governments. The Democrats are determined to push back against the GOP’s pro-crypto stance and ensure that proper safeguards are in place to protect consumers and national security.
The upcoming “Anti-Crypto Corruption Week” is set to be a pivotal moment in the ongoing debate over crypto legislation, as Democrats strive to hold the line against what they see as potential corruption and abuse in the industry. Stay tuned for updates on this developing story.