Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, issued the following statement during a Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee hearing entitled, “American Innovation and the Future of Digital Assets: Aligning the U.S. Securities Laws for the Digital Age.”

I must highlight over two days, Americans lost $6.6 trillion due to Trump’s failed tariff policies. But as Americans wonder how they will afford retirement or afford groceries, Trump is sitting pretty. In one year, he has doubled his wealth through various crypto schemes and is using the power of the Presidency to make himself richer.

Ladies and gentlemen and Members of this Committee, you know that Mr. McHenry and I worked in a bipartisan way to try to come to some consensus about the guardrails that were needed to protect our investors as it relates to crypto. But, this Committee is helping Trump. Last week, this Committee voted to make Trump the King of Crypto by passing legislation that lets him corner the market on stablecoins, kick George Washington off the dollar, and make his own stablecoin U.S. legal tender. Instead of stopping this grift, you are enabling it. Mr. Chairman, we need to stop Trump before we take any further steps on crypto legislation.

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