US Democrats push back on digital asset bills with ‘anti-crypto corruption week’

US Democrats have launched an “Anti-Crypto Corruption Week” to oppose three digital asset bills that House Republicans plan to advance during their “Crypto Week.”

This Democratic initiative is led by Representatives Maxine Waters and Stephen Lynch, who argue that the Republican-backed bills—namely the GENIUS Act (stablecoin regulation), the CLARITY Act (crypto market structure), and the Anti-CBDC Surveillance State Act (blocking a U.S. digital dollar)—lack critical consumer protections and national security safeguards.

Democrats contend that these bills could facilitate massive crypto fraud and effectively legitimize what they describe as crypto corruption linked to President Donald Trump. They highlight Trump’s significant personal investments in the crypto industry.

Democrats accuse the legislation of enabling Trump and his associates to exploit crypto markets for personal enrichment at the expense of investors and consumer safety.

Maxine Waters called the Republican effort “dangerous,” warning it would make Congress complicit in what she terms Trump’s “unprecedented crypto scam.” Waters and Lynch have actively blocked Republican attempts to fast-track these bills, offering numerous amendments to strengthen protections and prevent presidential crypto corruption, all of which Republicans have rejected.

The Democrats’ “Anti-Crypto Corruption Week” is a direct pushback against the GOP’s “Crypto Week,” underscoring the deep partisan divide over how to regulate digital assets in the US.

The outcome remains uncertain, particularly given the slim Democratic majority in the House and the contentious political environment surrounding crypto legislation.

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