A House Financial Services Committee markup to advance stablecoin legislation has largely been dominated by Democrats urging Republicans to do more to prevent government officials from profiting from the crypto sector’s activities.
The president and his family’s growing ties with the crypto sector have been a sharp focus for the panel’s Democrats led by Rep. Maxine Waters (D-Calif.), and this markup is ongoing. But even with those entanglements in the spotlight, the number of Democrats who support the STABLE Act is growing.
Those members, along with Republicans, say the need for regulation is greater than the risks of President Donald Trump’s personal enrichment.
