Chairman of the House Financial Services Committee: Trump's cryptocurrency trading makes regulation "more complicated"

ChainCatcher news, according to Decrypt, U.S. House Financial Services Committee Chairman French Hill on Monday rare criticized President Trump and his family's cryptocurrency business activities, stating that these actions have made the work of drafting laws for the emerging digital asset industry "more complicated." Hill specifically pointed out the meme coin and stablecoin projects launched by Trump, saying they have a negative impact on lawmakers' work. Hill: "These projects make our job more complicated."

On Monday, Hill stated that the House Financial Services Committee will review the draft of the "Stablecoin Act" on Wednesday and will soon discuss a new version of the Market Structure Act. In the Senate, the bipartisan "GENIUS Act," which received support with a vote of 18 to 6, has been submitted for a full vote. However, Trump's business activities have provided Democrats with reasons to oppose. Last week, Senator Elizabeth Warren criticized the USD1 stablecoin supported by Trump as a "scam" and attempted to link the project to the legislative process. She stated, "Congress should amend the stablecoin bill under consideration to prevent Trump and Musk from controlling people's money."