Democrats Launch “Crypto Corruption Week” to Counter Republican Crypto Push

U.S. Democrats Maxine Waters and Stephen Lynch are taking a firm stand against proposed cryptocurrency legislation backed by Republicans in Congress. In response, they have announced the launch of “Crypto Corruption Week,” to be held alongside the GOP’s “Crypto Week” from July 14 to 18. While Republicans aim to push forward three major bills — the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance State Act, Democrats are preparing strong opposition. They claim these proposals pose risks to consumers, enable fraud, and effectively legitimize Donald Trump’s alleged crypto corruption.

Waters: These Bills Serve Trump’s Inner Circle Maxine Waters, the top Democrat on the House Financial Services Committee, warned that the proposed legislation lacks crucial consumer protections and national security safeguards. She claimed that passing these bills would make Congress an accomplice in Trump’s crypto fraud, which allegedly brought over $1.2 billion in personal gains to him, his family, and wealthy insiders. “These laws directly enrich Trump, his family, and billionaire elites close to him, while scamming trusting investors,” Waters said.

Bills Headed for a House Vote, Democrats Plan Resistance The GENIUS Act has already passed the Senate and now awaits a vote in the House of Representatives. Meanwhile, the CLARITY and Anti-CBDC bills are still under consideration. Democrats have announced they will lead an aggressive campaign during "Crypto Corruption Week" and plan to introduce several amendments to reduce the perceived harm of these measures.

Trump, Crypto, and a Political Battle Waters had previously proposed the “Stop Trump In Crypto” bill, aiming to prohibit any sitting president from engaging in crypto-related activities. Together with Lynch, she continues to highlight Trump’s alleged involvement in questionable crypto ventures and stablecoin schemes. According to the Democrats, Republicans are crafting legislation tailored to Trump's interests. They are working not only to block these bills but also to strengthen oversight over cryptocurrency markets, which they say remain vulnerable to money laundering, fraud, and manipulation.

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