Congresswoman Waters Opposes Crypto Bills, Warns of Financial Crisis Risk

Congresswoman Maxine Waters has intensified her opposition to the Republican-led “Crypto Week,” issuing a critical press release on July 16. In her statement, Waters asserted that the three key pieces of crypto legislation under review would create “a casino for crypto billionaires to make more profits.” She expressed concern that these bills, known as the CLARITY and GENIUS Acts, would prioritize the interests of wealthy individuals in the crypto sector over the financial well-being of ordinary Americans. Waters warned that these legislative measures could increase the risk of a future financial crisis and legitimize what she described as “Donald Trump’s crypto scams.”

Waters also criticized the growing involvement of President Donald Trump in the digital asset sector, labeling it as “growing crypto crimes.” She criticized Republicans for their reluctance to include provisions that would limit Trump’s affiliations within the crypto industry. Waters concluded her press release by urging lawmakers to vote against the CLARITY and GENIUS Acts to protect consumers from potential harm.

Waters’ remarks came on the same day that Congress voted 215-211 in a procedural vote on three digital asset bills, following a failed vote on Tuesday. After the vote, Trump met with several lawmakers, and they agreed to advance the crypto legislation. Speaker of the House Mike Johnson expressed gratitude for Trump’s involvement, stating that it ensured the passage of the GENIUS Act and pledged to support additional crypto legislation in the coming days. As “Crypto Week” progresses, the path forward for these digital asset bills appears to be gaining momentum, with the possibility of them being ratified into law in the near future.