Maxine Waters Warns of Looming Crypto Legislation Risks

Senior Democratic lawmaker Maxine Waters has raised alarms over the impending GENIUS and Clarity bills, slated for a vote during 'Crypto Week.' In a sharply worded MSNBC op-ed, Waters framed the legislation as a Trojan horse—crafted during the Trump administration to legitimize crypto investments while handcuffing the SEC's ability to protect consumers. The bills are expected to clear the House by Thursday, with White House delivery projected for Friday.

Waters' piece, titled 'My Colleagues Are Making a Big Mistake,' paints the legislation as a systemic risk. She cites Bloomberg's finding that Trump-affiliated entities earned $620 million from crypto ventures, suggesting regulatory capture. 'These bills don't clarify—they obscure,' Waters argues, claiming they'll erode market transparency and create artificial legitimacy for speculative assets.