Odaily Planet Daily News On June 7, the U.S. House of Representatives Financial Services Committee held a "Minority Day" hearing at the urging of Democrats to conduct additional deliberations on the Clarity Act. At the meeting, several Democratic lawmakers again questioned former President Trump's involvement in the field of cryptocurrency, which may constitute a conflict of interest.
Rep. Maxine Waters said that the bill may be used by Trump to seek personal gain, and pointed out that he has been involved in cryptocurrency investment many times during his presidency. At the same time, legal experts also expressed concerns about the regulatory exemption clauses, potential loopholes and cybersecurity risks in the bill.
The Republicans emphasized that the United States currently lacks a federal regulatory framework for non-securities digital assets, and believe that the bill will help fill the regulatory gap. The bill is expected to enter the voting process next week. (CoinDesk)