Crypto Market Structure Hearing Divides Democrats and Republicans

A House Financial Services Committee hearing on digital asset legislation faced partisan tension when Republican lawmakers challenged claims that US President Donald Trump might profit from his ties to the industry. The GOP argued these claims were politically motivated, while Democrats pressed for greater focus on potential conflicts of interest related to Trump’s engagement with crypto. Representative Bryan Steil dismissed concerns as ‘Trump derangement syndrome,’ a tactic often used to dismiss criticism of the President. Democrats countered that the bill should address Trump’s potential misuse of digital assets legislation for his personal benefit.