Crypto Week could pave way for heightened Presidential corruption: House Democrats

Lawmakers Maxine Waters and Stephen Lynch revealed on Friday that they are working to rally Democratic opposition to several digital asset legislation set for House deliberation during Crypto Week, slated for the week of July 14.

Democrats to launch Anti-Crypto Corruption Week ahead of House Crypto Week

House Democrats Maxine Waters and Stephen Lynch revealed the launch of Anti-Crypto Corruption Week on Friday. The initiative aims to unite Democrat opposition to block the three crypto regulatory bills set for deliberation in Crypto Week, slated for the week of July 14.

House members will consider the GENIUS stablecoin bill, the market structure CLARITY bill and the Anti-CBDC Surveillance State bill in the same week of the proposed Anti-Crypto Corruption Week. 

Waters and Lynch called the bills "dangerous pieces of crypto legislation," claiming they would set the stage for crypto fraud and help "legitimize President Donald Trump's crypto corruption, which has already netted him a staggering $1.2 billion."

The Anti-Crypto Corruption Week's agenda is to prevent Republican lawmakers from garnering enough support to pass the respective bills, which House Financial Services Committee Chair Rep French Hill has boldly advocated for.

Congresswoman Waters firmly stated that the bills lack consumer protection and national security safeguards to protect customers from falling victim to political scams. "These bills would make Congress complicit in Trump's unprecedented crypto scam – one that has personally enriched himself [...] all while defrauding investors," she noted.

Likewise, Congressman Lynch highlighted the eagerness among Republicans to pass the bills without properly considering the potential negative consequences of crypto.

"The Republican-led, 'CLARITY Act' and the Senate's 'GENIUS Act' will not only further President Trump's corruption, but expose our financial stability, national security, and consumer protections to greater risk," Lynch stated.

This is not the first time Congresswoman Waters has attempted to curb President Trump's ties to the crypto industry. On May 22, Waters, along with 14 other Democratic co-sponsors, introduced the 'Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025,' also known as the "Stop TRUMP in Crypto Act of 2025."

The bill's core purpose is to prohibit the President and other federal heads — and their immediate families — from engaging in activities related to digital assets. Waters and other House Democrats also blocked a hearing on cryptocurrency regulation on May 6, citing concerns about President Trump's ties to the digital assets industry.

The effort by Democrats comes at a time when crypto industry members anticipate a positive deliberation process on the three pieces of legislation next week. Notably, the GENIUS stablecoin bill only requires passage at the House to reach the President's desk for final signing into law.