News

Trump's Memecoin Appears to Be Derailing Crypto Legislation

House Democrats are boycotting crypto regulatory hearings over Trump's personal crypto dealings.

May 6, 2025 • 1 min read

A scheduled crypto regulation hearing was replaced with a roundtable after House Democrats boycotted it, citing concerns about Trump's digital asset affiliations.

What’s the Scoop?

Hearing Boycott: House Democrats refused to attend the Financial Services Committee hearing, questioning potential conflicts involving Trump-linked digital assets.
Chair's Response: Financial Services Chair French Hill criticized Democrats for disrupting bipartisan proceedings, emphasizing the committee's intended focus on crypto regulation.
Roundtable in Place: In lieu of the hearing, a roundtable discussion was held to continue exploring crypto regulation and market oversight.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.