Ranking Member of the House Financial Services Committee Maxine Waters (D-MO) is slated to object to a joint crypto hearing scheduled for Tuesday, Politico reported on Monday.

Maxine Waters Hones In On Trump Crypto Connections

Hosted alongside the House Agriculture panel and titled American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century, the hearing is supposed to feature speakers such as Coinbase Product VP Greg Tusar, Former U.S. Commodity Futures Trading Commission Chair Rostin Benham, and Hiro Systems CEO Alex Miller.

The hearing, which is scheduled to cover regulatory concerns around crypto market structure, requires unanimous consent by all committee members.

However, an anonymous staffer told Politico that Waters plans to walk out with several other Democrats and host a “shadow hearing” regarding U.S. President Donald Trump and his family’s ties to the crypto sector.

The crypto-oriented clash comes the same day that several key Republican lawmakers, including House Financial Service Committee Chairman French Hill (R-AR), released an official discussion draft that would establish a sweeping regulatory framework for digital assets in the U.S.

Republicans and Democrats Divided Over Trump

“We made historic progress in the 118th Congress to build bipartisan, bicameral consensus in crafting a functional regulatory framework for digital assets,” Hill said in a May 5 statement.

“Our discussion draft builds upon that work and provides much-needed regulatory clarity for the digital asset ecosystem by protecting consumers and safeguarding the long-term integrity of digital asset markets in the United States,” he added.

U.S. President Donald Trump has been under growing scrutiny for his connections to the world of crypto in recent weeks, particularly amongst his Democratic opponents.

Trump is slated to hold a dinner gala later this month in Washington D.C. for top investors of his namesake meme coin, $TRUMP, sparking concerns over potential ethics violations.

“The American people deserve the unwavering assurance that access to the presidency is not being offered for sale to the highest bidder in exchange for the President’s own financial gain,” Senators Elizabeth Warren (D-MA) and Adam Schiff (D-CA) said in a letter this month.

It remains to be seen just exactly how Tuesday’s hearing will go down – and which key lawmakers will or will not participate aside from Waters.

The post House Financial Services Committee Member Maxine Waters Will Object To Crypto Hearing appeared first on Cryptonews.

The Trump Administration’s embrace of crypto is reportedly putting international financial stability at risk, says Francois Villeroy de Galhau, a member of the European Central Bank’s (ECB) Governing Council.

Villeroy de Galhau tells the French news outlet La Tribune Dimanche that the US “risks sinning through negligence,” according to Bloomberg.

“Financial crises often originate in the United States and spread to the rest of the world. By encouraging crypto-assets and non-bank finance, the American administration is sowing the seeds of future upheavals.”

The ECB official, who serves as governor of France’s central bank, also argues that Europe isn’t at risk of a banking crisis because the European Union (EU) is doing a superior job of supervising crypto.

The ECB has also been pushing for a digital euro to counter US President Donald Trump’s embrace of dollar-pegged private sector stablecoins.

ECB board member Piero Cipollone said at a conference in January that Trump’s new executive order on crypto could drive people away from banks.

“I guess the key word here (in Trump’s executive order) is worldwide. This solution, you all know, further disintermediates banks as they lose fees, they lose clients… That’s why we need a digital euro.”

However, vocal opposition to the ECB’s digital euro project swelled after the institution’s payment system crashed last month.

TARGET2 (T2), the ECB’s real-time gross settlement system, went down in late February, which prevented payments from being processed for several hours.

German MP Markus Ferber, a member of the European People’s Party, says the outage was “a blow to the ECB’s credibility.”

“People will ask legitimate questions how the ECB will be able to run a digital euro when they cannot even keep their day-to-day operations running smoothly.”

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