A recent Bloomberg report quotes Representative Patrick McHenry as stating that the ongoing political distractions surrounding the Trump family’s involvement with memecoins are impeding lawmakers from focusing on crucial crypto regulations. Speaking at the Reagan National Economic Forum, McHenry explained that both Republican and Democrat members of Congress have been diverted from advancing comprehensive crypto legislation due to these distractions. “It’s absolutely fact,” McHenry said according to Bloomberg. “The Trump family’s engagement in memecoins has made this work more complicated.” He went on to emphasize that Congress has spent years working towards bipartisan consensus on stablecoin regulation and a broader digital asset market framework, highlighting the urgent need for passing structured legislation. “If you’re concerned about memecoins… then you need to help me pass a stablecoin bill and a market framework bill,” McHenry reportedly stated. The report further states that Hill also issued warnings to investors regarding the risks associated with low-value, speculative digital assets, using a parallel comparison to risky traditional investments like junior mining stocks without reliable reporting. These comments reflect growing anxiety among policymakers who see the rising influence of politically charged crypto involvement as a significant obstacle to the clear and structured regulation necessary for the industry’s growth.