House Democrats Launch Anti-Crypto Corruption Campaign Against Republican Bills

House Democrats, led by Rep. Maxine Waters and Rep. Stephen Lynch, have launched a coordinated campaign titled “Anti-Crypto Corruption Week” to challenge a set of Republican-backed cryptocurrency bills. The initiative aims to block legislation that Democratic leaders argue would jeopardize consumer protections and enable financial misconduct linked to President Donald Trump.

The campaign specifically targets three proposed bills: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. Waters, Ranking Member of the House Financial Services Committee, asserted that these measures would eliminate essential safeguards, making it easier for fraudulent practices to take root within the crypto sector.

Waters highlighted that the legislative package lacks consumer protection and national security frameworks, and supports what she referred to as Trump’s “crypto scam,” which has reportedly generated $1.2 billion for the president. She criticized the bills as enabling self-enrichment through political connections.

Waters argued that fast-tracking these measures sends a troubling message regarding Congress’s oversight role, especially as it relates to evolving financial technologies. She noted that lawmakers must prioritize stability, integrity, and accountability in any future digital financial system.

Representative Stephen Lynch, Ranking Member of the Subcommittee on Digital Assets, raised further concerns about foreign influence. He claimed that Trump’s crypto-related ventures had received significant funding from foreign governments, raising questions about national security and policy bias. Lynch emphasized that the GOP-sponsored legislation would further weaken safeguards and create new vulnerabilities.

Lynch added that the Anti-CBDC bill, in particular, would limit federal research into central bank digital currencies, stalling innovation while allowing unregulated entities to exploit technological gaps. Both lawmakers stressed that the American financial system must remain grounded in transparency and trust. They urged members of Congress to reconsider the implications of the proposed legislation and reaffirm their commitment to upholding regulatory standards that protect the public.