US House of Representatives Holds Another Hearing on Crypto Regulation Bill, Questions Trump's Conflict of Interest
Odaily Planet Daily News: On June 7, the U.S. House Financial Services Committee, driven by Democrats, held a "Minority Day" hearing to conduct a supplementary review of the "Clarity Act" for digital asset markets. Several Democratic lawmakers once again questioned former President Trump's involvement in the cryptocurrency field, suggesting it may constitute a conflict of interest.
Representative Maxine Waters stated that the act could be used by Trump for personal gain, noting his multiple involvements in cryptocurrency investments during his presidency. Meanwhile, legal experts expressed concerns about the regulatory exemption clauses, potential loopholes, and cybersecurity risks within the act.
The Republican side emphasized that the U.S. currently lacks a federal regulatory framework for non-securities digital assets, believing that the act would help fill the regulatory gap. The bill is expected to enter the voting process next week. (CoinDesk)
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