- House Rules Committee approved debate on four major crypto bills, setting up votes from July 15 to 18.
- Rep. Maxine Waters opposes the CLARITY and GENIUS Acts, citing risks to SEC oversight and national security.
- Waters links crypto legislation to Trump’s $620 million crypto ties, calling it a conflict of interest.
A major political battle has erupted over the future of U.S. crypto regulation as Representative Maxine Waters, the lead Democrat on the House Financial Services Committee, has slammed a new slate of crypto bills. She warned the legislation would “handcuff the SEC” and “legalize crypto corruption at the highest level.”
Her sharp criticism comes as the U.S. House of Representatives begins its “Crypto Week,” a period set for debate and votes on several landmark digital asset bills.
The Bills at the Center of the Debate
On July 14, the House Rules Committee voted 8–4 to approve a rule that moves four crypto bills forward to full House debate. This step marks the start of what Republicans are calling Crypto Week.
The approved bills include:
- H.R. 3633 – Digital Asset Market Structure Clarity Act (CLARITY Act)
- S. 1582 – Guiding Uniform and Responsible Digital Asset Innovation Act (GENIUS Act)
- H.R. 1919 – Anti-CBDC Surveillance State Act
- H.R. 4016 – Department of Defense Appropriations Act, 2026
These bills aim to define how the SEC and CFTC should oversee digital assets, introduce a framework for stablecoin regulation, and stop the Federal Reserve from launching a central bank digital currency (CBDC). Committees such as Financial Services, Agriculture, and Appropriations submitted testimony ahead of the vote.
House votes are expected between July 15 and July 18, making this week one of the most active periods for crypto legislation in 2025.
Waters Opposes Crypto Bills, Warns of Oversight Limits
Rep. Maxine Waters, the lead Democrat on the House Financial Services Committee, strongly criticized the crypto bills in an MSNBC op-ed on July 15.
Waters said the CLARITY Act would block the SEC from acting against market fraud, making enforcement more difficult. She warned the bill could leave the public vulnerable to future failures like the FTX collapse.
In her words,
“The CLARITY Act handcuffs the Securities and Exchange Commission, preventing it from proactively protecting people against fraud.”
She also pointed out the GENIUS Act lacks clear oversight mechanisms. The bill, which passed the Senate and now moves to the House, does not provide budget support for supervision. Waters highlighted that the bill could allow foreign-controlled stablecoin issuers to operate under weaker rules, posing national security concerns.
Trump’s Crypto Links Cited as Conflict of Interest
Waters also connected the crypto legislation to Donald Trump. She referenced a Bloomberg estimate that crypto-related deals have added about $620 million to Trump’s net worth.
She stated the bills align with financial interests linked to the president, calling it a potential conflict of interest. Waters suggested the legislation is designed to “legalize crypto corruption at the highest level.”
Related: Official Trump (TRUMP) Leads in Major Weekly Insider Unlocks Worth Nearly $1 Billion
In response, she and Rep. Stephen Lynch announced “Anti-Crypto Corruption Week” to challenge the Republican-led Crypto Week. They are urging Democrats to vote against the CLARITY Act, GENIUS Act, and the Anti-CBDC Surveillance State Act.
Each bill is set for debate and a possible vote between July 15 and July 18, as the House prepares to take a key step in shaping future crypto rules.
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