Trump's "encryption committee" suffered a setback in its first vote in Congress, and its influence was questioned

Odaily Planet Daily News: The "Crypto Committee" established by Trump failed to exert the expected influence in the first key vote in Congress, causing the ability of White House Crypto and AI Czar David Sacks and Digital Asset Advisory Committee Executive Director Bo Hines to be questioned. The committee aims to promote cryptocurrency-related legislation, but failed to make a breakthrough in the recent vote on the bill on stablecoin regulation. Analysts pointed out that the committee's low-key operation and lack of clear policy direction make it difficult to gain sufficient support within Congress. In addition, crypto projects involved in by Trump himself and his family, such as Trump Tokens and World Liberty Financial, have also raised concerns about ethics and conflicts of interest, further undermining the committee's credibility. Democratic lawmakers have expressed concern about these potential conflicts of interest, believing that this may affect the fairness of relevant legislation. At present, Trump's "Crypto Committee" faces the dual challenges of reshaping its image and enhancing its influence. (New York Post)