When the Crypto Week event, aimed at Speedrunning Three Bills Crypto Bills, began in DC, the Democrats began their own event called Crypto corruption awareness week. The representative Maxine Waters, the representative Stephen Lynch and her comrades are pressing for clauses that will prevent the presidents of participation from participating in the cryptographic business. Experts doubt that fighting corruption is their real reason.
Cryptographic corruption awareness week
The Republicans of the House of Representatives declared a cryptographic week. This week, they will advance in three crucial cryptographic tickets. These bills are the state law CBDC Anti-Surveilance, which prohibits the Federal Reserve from launching cryptocurrencies directly to persons, the Genius law, aimed at the regulation of the stable and the law of clarity, which will determine the legal status of digital assets. Two of these acts were created with contributions from both parties, but later Democrats became antagonistic towards the adoption of this legislation, demanding to add clauses that limit the possible participation of senior officials and their families in the cryptographic business.
In the press release of anticipated corruption published On the website of the DC office on July 13, the Democrats recalled that Trump himself was talking against Bitcoin in 2021. They explain Trump’s heart for greed, stating “What” did “hung? He realized how much money he could earn from him. ”
The press release appoints $ 350 million as the fortune made by Donald Trump in a few weeks after a memecoin launched three days before the inauguration. According to the estimate provided in the press release, Trump’s official token is to blame for the loss of more than $ 2 billion of investors. The authors of the document believe that Trump’s official launch is adjusted to a pump and overturned scheme.
Democrats suggest that Trump’s action is de facto unregistered security, so he violates the Law of Securities. Recently, the stock exchange and values commission ruled that Memecoins should be treated as collectibles and not values. The press release emphasizes that this decision was made by Trump’s “Trump”
In addition to that, the Democrats mention the fact that Trump’s offer for dinner with the president through strong investments is the door of foreign influences, or a “Vessel” for corruption “ As expressed by the New Republic. In conclusion, the authors of the press release urge voters to vote “no” about acts of clarity and genius and support Maxine Waters “Dering Trump” In the Crypto Law “of 2025. The law aims to prohibit the president, the vice president, the members of Congress and their immediate families to participate in the cryptographic business.
The document quotes The words of the Lynch representative:
“President Trump’s show by the rule of law is impressive. Never in American history has such a shameless president violated the ethics laws and openly pressed an agend And risky of cryptocurrencies, they will have their cryptocative crypts.
Trump’s participation in the cryptographic business is problematic
In fact, Trump’s investment in the cryptography business is drawing attention. Some cryptocurrency enthusiasts believe it is a sign that the president has skin in the game and will take serious steps towards the release of the American cryptographic sector. Others, including Trump’s moderate supporters, believe that Trump is giving the cryptographic space a bad look and believes that his family and family’s companies are scandalous. The reason is clear: uses its influence and popularity as president to sell things of people and creates multiple conflicts of interests along the way. The dirty game is evident to many, but the consequences are limited to expressing criticism. The fact that 33.4% of the entire melania tokens supply has been sold minutes before the launch even throws a larger shadow for the Trump family, and at the same time in the cryptographic industry.
Crypto Capital was concentrated in the Trump family now includes Melania and Trump Memecoins, the Bitcoin American Bitcoin mining company, the multifaceted cryptographic company World Liberty Financial, USD1 Stablecoins issued by WLFI and more. According to Forbes, Donald Trump only TRAIGHT $ 1 billion After taxes through their cryptographic.
On July 14, MSNBC published an opinion article by Maxine Waters in which she states that “pending “cryptographic legislation It will open the gates to mass fraud and financial ruin for millions of American families. “
Is it the reason for the right Democrats?
While the Democrats threaten to take three bills as hostages to save the United States of corruption, some believe that their motivation is not so fair. Scott Melker, investor and host of the podcast Wolf of All Streets, considers that Democrats are trying to protect large banks, not consumers.
The Jacobin website provides a Different version. According to this publication, the Democrats considered voting against cryptography law would become a “political suicide” for them. Supposedly, they decided to support the bills and offer symbolic anti -corruption amendments that will be blocked by Republicans anyway. However, it will represent the Democrats as the power interested in the regulation of cryptocurrencies and attract cryptographic votes anyway.
What makes some people doubt that Democrats are really worried about protecting US citizens against any real threat that comes from cryptographic space is that in 2022, Maxine Waters was very soft with Sam Bankman, CEO of FTX, when he was accused of fraud. Instead of objecting the scrutiny, Waters praised a series of interviews that Bankman-Fried gave after the FTX collapse. Before the arrest, he made several donations to the Democrats. On July 14, in his speech in the Chamber Rules Committee, Waters mentioned FTX as an example of how bad the cryptographic platforms can be.
The republican majority in DC is not absolute, so the Democrats could have an effect. Soon we will see if this week is a week of encryption or rather a week of cryptographic corruption.
