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Digital Asset Bills Create A Casino For Crypto Billionaires, Rep. Maxine Waters Says 

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Julia Smith

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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Congresswoman Maxine Waters is doubling down on her pushback against the Republican-led “Crypto Week” in a new July 16 press release.

Maxine Waters Slams Trump’s Crypto Ties

In the scathing Monday press release published on the Democrats’ U.S. House Committee on Financial Services website, Waters claimed that the three key pieces of crypto legislation under congressional review this week would create “a casino for crypto billionaires to make more profits.”

“For weeks, House Financial Services Ranking Member Maxine Waters has sounded the alarm on the grave dangers the so-called CLARITY and GENIUS Acts will pose to our financial system,” the press release states. “These bills throw hardworking Americans under the bus, putting them at risk for a future financial crisis—all to legitimize Donald Trump’s crypto scams.”

Waters also slammed U.S. President Donald Trump’s digital asset ventures as “growing crypto crimes” and lambasted Republicans’ hesitancy to enact provisions that would limit Trump’s affiliations within the sector across the pieces of crypto legislation.

“The only remaining solution to stop Trump’s crypto grift and protect consumers? Vote NO on the so-called CLARITY and GENIUS Acts,” the press release concludes.

Crypto Legislation Advances After Trump Meeting

Waters’ critiques came the same day as Congress voted 215-211 in a procedural vote on three digital asset bills after a failed vote on Tuesday.

Following Tuesday’s vote, Trump met with several U.S. lawmakers who, “after a short discussion,” agreed to advance the crypto legislation.

“I’m thankful for President Trump getting involved tonight to ensure that we can pass the GENIUS Act tomorrow and agreeing again to help us advance additional crypto legislation bills in the coming days,” Speaker of the House Mike Johnson said in a July 15 statement.

As “Crypto Week” continues, it may only be a matter of time before the pieces of digital asset legislation find a path forward to be ratified into law.

This article first appeared at News

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