Trump’s crypto dealings face scrutiny as House Republicans unveil digital asset bill

Quick Summary:

According to the text, transactions involving digital commodities “shall be deemed not to be an offer or sale of an investment contract” as long as the purchaser did not have “an ownership interest or other interest in the revenues, profits, or assets.”According to the Democratic staffer, rules required all members of the House Financial Services Committee to agree to move forward with the digital asset hearing, suggesting that Waters intended to block the Republican-controlled event and conduct a shadow hearing to explore Trump’s and his family’s ties to the crypto industry.

The May 6 hearing, entitled “American Innovation and the Future of Digital Assets” and led by Committee Chair French Hill, could address draft legislation proposed by Republican lawmakers to establish a crypto market regulatory structure.

Related: US Senator calls for Trump impeachment, cites memecoin dinnerWaters, according to the staffer, requested that Hill and Republicans amend any proposed legislation to explicitly prevent potential conflicts of interest in which Trump could personally enrich himself through crypto ventures.

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Article Details

Author / Journalist: Cointelegraph by Turner Wright

Category: Crypto

Markets: United States

Topics: Digital Hill Bill House Hearing Crypto Trump’s Legislation Trump Waters Draft

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-05 @ 21:53:56 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 593 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28417157

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Main Topics: Crypto

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