Democrats Slam Republicans as ’Cowards’ in Fiery Kickoff to ’Anti-Crypto Corruption Week’
Washington's crypto cold war turns nuclear as Democrats launch a scathing offensive against GOP lawmakers.
Brace for impact: The political battle over digital assets just got personal.
While politicians trade blows, Wall Street quietly loads up on Bitcoin ETFs—because nothing fights corruption like profiting from both sides of the aisle.
Democrats call Republicans cowards
Since the year began, TRUMP has pushed initiatives that support the crypto industry. From the leaders he has chosen to the support shown by publicly rooting for the assets. He has also been involved in the industry by launching companies and crypto coins.
Maxine Waters says that the bills WOULD make Congress complicit in Trump’s unprecedented crypto scam. She continued that Trump’s goal is to personally enrich himself, his entire family, and the billionaire insiders in his cabinet at the cost of investors. In addition, these bills serve as a brazen stamp of approval for the blatant abuse of power. According to reports, Trump has amassed $1.2 billion from the industry.
Maxine Waters said, “Just days after passing one of the most egregious billionaire giveaways in American history and ripping basic needs away from American families. Republicans are at it again. They are doubling down by fast-tracking a dangerous package of crypto legislation through Congress.”
Dems also accused Republicans of being too cowardly to stand up to the President. Congressman Lynch said, “My Republican colleagues are eager to continue doing the bidding for the crypto industry while conveniently ignoring the vulnerabilities and opportunities for abuse that exist in crypto.”
To that end, Democrats affirmed that they are not afraid and will spend this week reminding the public of the true cost of this corruption. “Our message is clear: we will not allow the financial system to become a vehicle for self-dealing, lawlessness, and abuse of power. The stakes for consumers, investors, and our democracy could not be higher.”
Dems say China is ahead because of CBDCs
Stephen Lynch says the ‘Anti-CBDC Surveillance State Act’ will shackle US Government research while giving China another opportunity to capitalize on a new technology. This is because of crypto products’ volatile and risky nature and the lack of investor protections.
Meanwhile, China is creating an international operations center in Shanghai for the digital yuan, e-CNY. China envisions a “multipolar” currency system where multiple currencies support the global economy, China’s central bank chief Pan Gongsheng said.
Waters pointed at Republicans, saying, “The same Republicans who rail against a government-backed digital dollar in the name of ‘freedom’ are now rushing to hand over the keys to Americans’ financial future to Trump’s illegal and corrupt crypto empire.”
On March 6, Republican Representative Tom Emmer proposed the Anti-CBDC Surveillance State Act. This bill aims to stop the Federal Reserve, the US’s central bank, from issuing a CBDC.
The House Committee on Financial Services said that the Blockchain Association, the Digital Chamber of Commerce, and a number of banking lobbies are among the groups that back the bill.
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