The Trump Family's Obsession with "Coin Hype" Sparks Criticism from Republican Lawmakers

BlockBeats News, May 31st, Representative French Hill, Chairman of the House Financial Services Committee, stated that President Trump's activities in cryptocurrency and meme coins have made the legislative work that Congress has been brewing for years more complicated. "This is absolutely true," said the Republican congressman. "The Trump family's involvement in the world of meme coins has made this work even more complicated because I believe it has distracted our members (both Republicans and Democrats) and prevented them from focusing on what we should be doing."

Hill stated: "We have been working hard for five years, especially in the House, to garner strong bipartisan support for stablecoins and a market framework." "If you are concerned about meme coins, concerned about whether they have no value, or what their purpose in society is, then you need to help me pass a stablecoin bill and a market framework bill that will clearly outline the rules for how digital assets operate in our economy." (FX Street)