Trump's crypto ventures cause tensions to bubble over as Democratic lawmaker scuttles key hearing
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Trump's crypto ventures cause tensions to bubble over as Democratic lawmaker scuttles key hearing
●House panels were due to discuss crypto bill
Representative Maxine Waters objected due to concerns about Trump ventures
●Trump has touted a meme coin, family crypto project
●Crypto industry has sought to portray digital asset regulation as a bipartisan issue
May 6 (Reuters) - Tensions on Capitol Hill over President Donald Trump's various cryptocurrency ventures escalated on Tuesday and threatened to derail the digital asset sector's hope of legislation by the end of this year as a top Democratic lawmaker stalled efforts to debate a bill.
Although Congress had appeared likely earlier this year to pass legislation governing digital assets for the first time, Democrats have grown increasingly frustrated as Republican Trump and his family members have promoted their personal crypto projects.
Representative Maxine Waters' objection to a joint hearing scheduled for Tuesday effectively cancelled proceedings between the House Financial Services Committee and the House Agriculture Committee, which were due to discuss creating a new legal regime for cryptocurrencies.
Trump's crypto ventures include a so-called meme coin called $Trump, launched in January, and a business called World Liberty Financial, a crypto company owned partly by the president. Trump on social media has promoted a private dinner later this month for the top holders of his meme coin, along with a "special VIP tour" for a select few investors.
