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Highlights
- Maxine Waters and Stephen Lynch intend to use the "Anti-Crypto Corruption Week" campaign to block three crypto bills.
- These bills include the GENIUS Act, CLARITY Act, and Anti-CBDC Act.
- The anti-crypto corruption week is next week, same as the 'crypto week.'
- This is part of the Democrats' attempt to block "Trump's crypto corruption."
House Democrats Maxine Waters and Stephen Lynch are launching an initiative to rally other House Democrats to block the crypto bills, the GENIUS and CLARITY Act, from passing. As part of this initiative, Waters and Lynch have announced next week as “Anti-Crypto Corruption Week”, the same week as “Crypto Week.”
House Democrats Launch ‘Anti-Crypto’ Corruption Week
In a press release, Maxine Waters, who is the top Democrat on the House Financial Services Committee, and Stephen Lynch, a member of the Subcommittee on Digital Assets, announced that next week will be “Anti-Crypto Corruption Week.”
As CoinGape reported earlier, this is the same week (between July 14 and 18) that the GOP-led House has declared as ‘Crypto Week.’ The representatives intend to use next week to advance the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance State Act.
However, Waters and Lynch plan to use their so-called “Anti-Crypto Corruption Week” to lead Democrats to oppose the Republicans’ efforts to “jam through the House three dangerous pieces of crypto legislation.”
These House Democrats claimed that these crypto bills pave the way for massive crypto fraud and legitimize “President Trump’s crypto corruption,” which they said has added $1.2 billion to his wealth. Waters remarked,
Aside from lacking urgently needed consumer protections and national security guardrails, these bills would make Congress complicit in Trump’s unprecedented crypto scam – one that has personally enriched himself, his entire family, and the billionaire insiders in his cabinet, all while defrauding investors
Meanwhile, the Anti-Crypto Corruption week is the latest of Waters’ initiatives to block Trump’s alleged corruption. In May, the Congresswoman proposed the ‘Stop Trump In Crypto’ Act to ban the president from engaging in crypto activities.
Meanwhile, it is worth noting that the GENIUS Act has already passed the Senate and now only needs the House to vote on it for it to proceed to the President’s desk. The CLARITY Act and Anti-CBDC Act still require debate on the House floor.
Efforts To Call Attention To “Trump’s Crypto Crimes”
Waters and Lynch also stated in the release that the Anti-Crypto Corruption week builds on their “relentless work” over the past few months to draw attention to Trump’s crypto-related crimes. As part of these efforts, they noted how they led the effort to block the “dangerous stablecoin bill.”
Congresswoman Waters also led Committee Democrats in blocking a joint hearing of the Financial Services and Agriculture Committees on the House’s crypto market structure bill. Following that event, she convened a Democratic-led hearing to highlight the “crypto corruption” carried out by Trump and his family.
During the CLARITY Act markup phase, the House Democrats offered nearly 30 amendments to “lessen the harm of the bill.” Despite their efforts to block the bill, the crypto bill passed the markup phase and is now heading to the House floor next week.
Meanwhile, amid the ‘Anti-Crypto Corruption week’ campaign, White House crypto adviser Bo Hines remarked in an X post that next week will be huge, with the ‘Crypto Week’ coming up.
He expects the GENIUS Act to head to the president’s desk while the CLARITY Act moves to the Senate. Hines added that it is time to make America the Crypto Capital of the world.
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