Trump’s encryption transactions are facing scrutiny while Republicans in the House of Representatives reveal the draft law of digital assets
The encryption companies in US President Donald Trump are increasingly checking the Capitol Hill and have begun to influence the progress of American digital asset legislation. Since Republican lawmakers in the US House of Representatives revealed a draft draft law of the Digital Fundamentals Market on May 5, Democrats prepared a unified response to Donald Trump’s in -depth relations with this industry.
Speaking to Cointelegraph on May 5, a democratic employee with knowledge of the issue said that Maxine Water, a member of the Financial Services Committee in the House of Representatives, is planning to lead some members of her party from a hearing led by Republicans to discuss digital assets. The hearing on May 6, entitled “American Innovation, the Future of Digital Assets” and the leadership of the French Committee Hill, can address the draft legislation proposed by Republican lawmakers to create an organizational structure in the encryption market.
In a statement of May 5, MP Hill and three senior Republicans unveil The draft law, which can clarify the treatment of digital assets by the financial organizers of the United States: Securities and Stock Exchange Committee (SEC) and the CFTC futures contract. Hill and others Repeat Some points of talking about Trump about encryption – for example, making the United States “the world of encryption in the world” – indicate respect for the previously announced president’s policies.
The draft law included a ruling that requires SEC and CFTC to issue common rules that define digital goods. According to the text, the transactions that involve digital goods are considered “not a offer or sale to an investment contract” as long as the buyer has no “royal interest or another interest in revenues, profits or assets.”
According to Democratic employees, the bases require all members of the Financial Services Committee in the House of Representatives to approve the progress of the digital assets, which indicates that the water aims to prevent the event that is controlled by Republicans and conducting a shadow hearing to explore Trump’s relationships and his family with the encryption industry. It is said that at least nine Democrats have It is a similar step To oppose the proposed Stablecoin Bill in the Senate.
It calls for dismissal, criticism from both sides
Some members of Congress already He called for the dismissal of Trump After showing the opportunity for some of the best Memecoin holders to take a White House tour and attend a private dinner. In addition to Memecoin, the President’s family supported World Liberty Financial, which was recently launched Stablecoin, and an investment company based on its headquarters used Abu Dhabi Stablecoin USD1 A settlement of an investment of $ 2 billion In Binance.
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Related to: He calls on the American Senator to isolate Trump, and he refers to a mechanical dinner
According to the employee, water asked Hill and the Republicans to amend any proposed legislation to explicitly prevent the potential conflict of the interests that Trump could personally make through encryption projects. Cointelegraph has arrived at Hill’s office, but she did not receive a response at the time of publication. According to what the legislator stated in Arkansas He said In March, the Trump family’s participation in the encryption industry makes the relevant legislation “more complicated”.
Republican lawmakers in the United States are currently controlling the House of Representatives, the Senate and the Presidency. At least two members of the Senate supporting Trump Criticism of Mimikoen dinnerWhich hints that the president was selling access to his office. It is not clear at the time of publication who can attend the May 22 dinner party from among the Memoin holders.
magazine: Trump’s encryption projects raise conflicts in interests, trading questions from the inside
This is a developing story, and more information will be added when available.
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