Rep. Maxine Waters, a leading Democrat on the House Financial Services Committee, blocks efforts to hold a joint hearing between her committee and the House Agriculture Committee on Monday’s newly announced market structure discussion bill.
Under House rules, all participants in the joint hearing must agree to proceed. Waters opposed the joint hearing and said it would prevent it from going as planned, Democrats told Coindsk, pointing to US President Donald Trump’s recent increase in cipher involvement.
The Financial Services and Agriculture Commission announced that it would hold a joint hearing on issues in market structure last week, and released the first text addressing the issue early on Monday, including how the Securities and Exchange Commission and the Commodity Futures and Trade Commission oversee the crypto.
“Rankings member Maxine Waters is extremely vocal about Trump’s code crimes and is urging Republicans to investigate these crimes,” the official said. “Ahead of tomorrow’s hearing, ranking member Waters called Chairman Hill and told him he wouldn’t approve the hearing unless he blocked a provision to stop Republicans from Trump from gaining more profits from the crypto from investors’ background.”
Politico first reported that Waters opposed the joint hearing.
Recently, Trump announced that he will hold dinner for the 220 political parties that have the most Mimecoin in Trump. One of his children, Eric Trump, announced last week that Abu Dhabi investment firm MGX would use World Liberty Financial’s USD1 stubcoin to sign an investment in crypto exchange vinance. The publicly available logistics company, Freight Technology, said last week it would buy $20 million in Trump Coin with the express purpose of trying to influence trade policy.
Democrat officials told Koindsk that Waters, the Financial Services Commission and other Democrats will hold their own hearings examining Trump’s various crypto-related relationships, including the world’s Liberty Financial.
A French Hill spokesman, chairman of the Financial Services Committee, said, “Since the last assembly, we have had productive bipartisan, bipolar debates on market structure law. Ranking members are encouraging us to express her opinion and attend tomorrow’s hearing to reconsider her decisions.”