A recent congressional hearing meant to advance digital asset regulation instead erupted into political controversy, as lawmakers questioned whether former President Donald Trump could personally benefit from the proposed CLARITY Act.
What began as a discussion around the structure of crypto markets quickly spiraled when Rep. Maxine Waters accused Trump of having undisclosed business ties to the industry—particularly through entities like World Liberty Financial, a crypto platform allegedly linked to his inner circle.
She claimed the bill could pave the way for Trump to leverage regulation for private gain, potentially placing taxpayer dollars “in his digital wallet.”
Amid these concerns, Democratic members called for a formal inquiry into Trump’s financial connections to crypto ventures.
Former CFTC Chair Timothy Massad supported the push, warning that any regulatory framework lacking transparency around political entanglements would damage the sector’s credibility.
Waters also raised alarms about national security risks, criticizing the bill for failing to address fraud and protect retail investors. Despite strong pushback, the CLARITY Act is expected to move toward a committee markup by June 10.
While another bill—the GENIUS Act, targeting stablecoin oversight—has already passed, this latest debate suggests crypto regulation may now be shaped as much by politics as by policy.
As the U.S. Senate debates a sweeping reconciliation package dubbed the “Big, Beautiful Bill,” crypto industry advocates are rallying behind an amendment introduced by Senator Cynthia Lummis aimed at reforming outdated and burdensome tax rules for digital assets.
In a major shift from its earlier stance, Sparkassen-Finanzgruppe — Germany’s largest banking group — is preparing to introduce cryptocurrency trading services for retail clients by the summer of 2026, according to a report from Bloomberg.
Kazakhstan is taking a major step toward integrating digital assets into its national financial strategy, with plans to establish a state-managed crypto-reserve.
Bitvavo, Europe’s largest euro-denominated spot crypto exchange, has officially received a MiCA license from the Dutch Authority for the Financial Markets (AFM), allowing the firm to operate across all 27 European Union member states.