House Financial Services Committee Chair: Trump's cryptocurrency dealings make regulation 'more complicated'

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According to ChainCatcher and Decrypt, House Financial Services Committee Chairman French Hill on Monday rarely criticized President Trump and his family's cryptocurrency business activities, stating that these actions make the work of establishing laws for the emerging digital asset industry "more complicated". Hill specifically pointed out Trump's meme coin and stablecoin projects, saying they have a negative impact on legislators' work. Hill: "These projects make our work more complicated."

Hill stated on Monday that the House Financial Services Committee will review the draft Stablecoin Act on Wednesday and will soon discuss the new version of the market structure law. On the Senate side, the GENIUS Act, which received bipartisan support with an 18-6 vote, has been submitted for a full Senate vote. However, Trump's business activities provide Democrats with reasons for opposition. Last week, Senator Elizabeth Warren attacked the USD1 stablecoin supported by Trump as a "scam" and tried to link the project to the legislative process. She stated that "Congress should modify the stablecoin bill under review to prevent Trump and Musk from controlling people's money."

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