Maxine Waters urges Congress to delay crypto laws amid presidential profits

Rep. Maxine Waters wants Congress to pump the brakes on crypto legislation, and her reasoning is straightforward: don’t write the rules of a game while the referee is placing bets on the outcome. The California Democrat and ranking member of the House Financial Services Committee has been escalating her campaign against major crypto bills, arguing that advancing regulatory frameworks without conflict-of-interest protections effectively gives a green light to self-dealing at the highest levels of government. The money trail Waters keeps pointing to At the center of Waters’s objections is a simple math problem. The Trump family’s crypto ventures have reportedly generated roughly $1.2 billion in increased net worth. That figure includes a notable $2 billion investment connected to a Trump-linked stablecoin. Waters argues that passing crypto-friendly legislation under these circumstances would, in her words, condone ill-gotten gains. Legislative casualties pile up Waters hasn’t just been giving speeches. She’s been systematically working to block or amend every major piece of crypto legislation that crosses her desk. The GENIUS Act, a stablecoin-focused bill, drew her ire for lacking w...