PANews reported on April 1 that according to Decrypt, French Hill, chairman of the U.S. House Financial Services Committee, criticized President Trump and his family's cryptocurrency business activities on Monday, saying that these actions have made the work of formulating laws for the emerging digital asset industry "more complicated." Hill specifically pointed out the meme coin and stablecoin projects launched by Trump, saying that they have a negative impact on the work of lawmakers. Hill: "These projects make our work more complicated."
Hill said on Monday that the House Financial Services Committee will review the draft Stablecoin Act on Wednesday and will soon discuss the new version of the Market Structure Act. In the Senate, the GENIUS Act, which received bipartisan support by 18 to 6 votes, has been submitted to the full house for a vote. But Trump's business activities have given Democrats a reason to oppose. Last week, Senator Elizabeth Warren slammed the Trump-backed USD1 stablecoin as a "scam" and tried to tie the project to the legislative process. She said that "Congress should amend the stablecoin bill under consideration to prevent Trump and Musk and others from controlling people's money."
