U.S. Representative Maxine Waters, the senior Democrat on the House Financial Services Committee, is urging Congress to delay any crypto legislation while the president profits from digital assets. The Trump family’s crypto ventures have reportedly generated approximately $1.2 billion in increased net worth, including a notable $2 billion investment connected to a Trump-linked stablecoin. Waters has introduced the STOP TRUMP and CRYPTO Act, a bill designed to prohibit top federal officials from engaging in crypto-related businesses. She opposes major legislation such as the GENIUS Act and the CLARITY Act, with the latter failing in the Senate on September 15-16 by a 49-50 vote along party lines. She also submitted an 11-page letter to the Department of Labor opposing the inclusion of digital assets in 401(k) retirement plans.
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