#USHouseMarketStructureDraft Initially a bipartisan hearing meant to discuss a Digital Asset Market Structure Discussion Draft, which was introduced into Congress on Monday (May 5), the hearing instead derailed down partisan lines.

Rather than attending the Tuesday hearing, many Democratic lawmakers, led by House Financial Services ranking member Maxine Waters, walked out of the joint hearing in order to hold their own entitled “Democratic Hearing To Discuss Trump’s Crypto Corruption and Conflicts of interest.”

“This decision comes after Chairman French Hill (R-AK) refused to include provisions in legislation blocking Trump’s ability to further enrich himself from crypto,” said Waters.

The political conflict marks a sharp turn in what was once a relatively bipartisan area of interest and risks turning both stablecoin oversight and crypto market clarity from a regulatory challenge into a political football being thrown back and forth.

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