By Hannah Lang
(Reuters) – Tensions on Capitol Hill on the various companies of President Donald Trump's cryptocurrencies degenerated on Tuesday and threatened to derail the hope of the digital legislation sector by the end of this year, because a democratic legislator blocked efforts to debate a bill.
Although the congress probably appeared earlier this year to adopt legislation governing digital assets for the first time, democrats are increasingly frustrated, because republican members Trump and family members have promoted their personal cryptography projects.
The objection of representative Maxine Waters to a joint hearing scheduled for Tuesday actually canceled the procedure between the Chamber's Financial Services Committee and the Chamber Agriculture Committee, which was to discuss the creation of a new legal regime for cryptocurrencies.
Trump Crypto companies include a so-called part of memes called $ Trump, launched in January, and a company called World Liberty Financial, a crypto company partly belonging to the president. Trump on social networks promoted a private dinner later this month for the best holders of his part, as well as a “special VIP tour” for some selected investors.
Trade efforts have aroused criticism from government ethics experts and political opponents on conflicts of potential interests, especially because Trump has courted cryptographic industry on the campaign track and has committed to revising the regulations of the sector.
They also questioned additional legislation on cryptocurrency, because some legislators have expressed their concern about self-feeding.
“I cannot accept such an audience in good faith to discuss the structure of the cryptography market while the Republicans refuse to stop or even recognize Trump's abuse of power,” Waters said in a statement before the planned hearing.
The representative French Hill, the republican president of the Chamber of Financial Services Committee, said that Waters opposing Tuesday's audience “launched a partisanry in what was historically a strong and good bipartite relationship.”
In a statement, Anna Kelly, assistant press secretary of the White House, said that there were no interests of interest and that Trump's assets were in a trust man managed by her children.
“President Trump is dedicated to making America the world capital of cryptography and revolutionizing our digital financial technology,” she said.
However, Trump's cryptographic arrangements have threatened to derail legislation which was once considered as some of the analysts and lobbyists to adopt this year. The congress also debates a bill to create a regulatory framework for stablescoins, a type of cryptocurrency designed to maintain a constant value, generally an ankle of 1: 1 dollar.
