News View Non-AMP

Maxine Waters Warns Crypto Bills Could Trigger Financial Crisis

Published by
Qadir AK

As U.S. lawmakers gear up to vote on two major crypto bills, the CLARITY and GENIUS Acts, Rep. Maxine Waters has raised a red flag, calling the proposals dangerous giveaways to Wall Street, Big Tech, and even the Trump family.

Writing in MSNBC, Waters warned that the new legislation could strip the SEC of its enforcement powers, threaten investor safety, and allow bad actors to thrive under minimal oversight.

In an X post shared by Jungle Inc, analyst highlighted Rep. Maxine Waters’ sharp criticism of the pro-crypto CLARITY and GENIUS Acts, warning they could lead to massive fraud, financial ruin, and even presidential corruption. Waters compared the bills to the repeal of Glass-Steagall, accusing them of enabling Trump’s alleged $1.2 billion crypto scheme. 

Also Read : Crypto Week Begins – Bo Hines Says It’s “Time to Make America the Crypto Capital”

SEC Power Gutted, Fraud Gate Open?

Waters’ central concern is that the bills would strip enforcement power from the Securities and Exchange Commission, forcing regulators to act only after damage is done.

“If they pass, we’ll face the first crypto financial crisis in U.S. history,” she warned.

She also slammed the GENIUS Act for weakening oversight on stablecoins and allowing DeFi platforms to operate outside of financial regulations, potentially inviting national security threats and untraceable foreign influence.

Adding to the alarm, both bills appear to give decentralized finance (DeFi) projects a free pass from most compliance responsibilities, something Waters believes could open the U.S. market to untraceable foreign-controlled crypto firms.

Trump’s Crypto Ties Stir Corruption Concerns

The debate over these bills comes amid growing scrutiny of Donald Trump’s involvement in the crypto space. From promoting memecoins and NFTs to co-founding ventures like World Liberty Financial, the Trump family’s deepening ties to digital assets have sparked accusations of self-dealing. Plans for a utility token for Truth Social and a recent ETF filing have only intensified these concerns.

House Democrats even staged a walkout during a recent digital assets hearing, accusing Trump of “crypto corruption” and warning that his personal interests could influence legislative outcomes. Senator Elizabeth Warren labeled Trump’s crypto-themed events as an “orgy of corruption,” demanding more transparency.

Congress at a Crossroads, Global Eyes Watching

This debate isn’t just a domestic one. As Sean Lee of the International Digital Asset Exchange Association pointed out, America’s approach will set a global precedent. Lee believes clear regulation is needed but cautioned against swinging too far in favor of deregulation without robust checks.

The week ahead in Congress is being closely watched by both markets and global regulators. Analysts suggest that if the bills pass as-is, they could legitimize industry shortcuts, embolden politically connected crypto ventures, and further entrench the influence of Wall Street and Big Tech over digital assets.

What are the CLARITY and GENIUS Acts?

The CLARITY and GENIUS Acts are proposed U.S. crypto bills aimed at creating a regulatory framework for digital assets. They seek to define how cryptocurrencies and DeFi platforms are regulated, potentially reducing the Securities and Exchange Commission’s (SEC) authority.

Why is Maxine Waters opposing the CLARITY and GENIUS Acts?

Rep. Maxine Waters believes the bills are dangerous, claiming they favor Wall Street, Big Tech, and individuals like Donald Trump by removing key protections and SEC oversight, potentially enabling fraud and financial instability.

How could the CLARITY and GENIUS Acts impact global crypto regulation?

Global regulators are closely watching the U.S. outcome. Experts warn that passing these bills without proper checks could weaken international confidence and set a precedent for poor oversight.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

XRP’s $5 Target Attracts Attention, But Ozak AI’s $1 Launch Goal Could Deliver 100x

Crypto markets are buzzing with bold predictions as the bull cycle continues to unfold, and…

August 31, 2025

Layer Brett Overtakes Shiba Inu and Pepe Coin Hype As Experts Discuss 25,000% Potential

Meme coins haven’t lost their charm, but they’ve definitely evolved. Shiba Inu and Pepe Coin…

August 31, 2025

Solana and Cardano Price Targets For Late 2025 and The Breakout Crypto Eyeing 3500% Gains

Late-2025 is shaping up to be a big test for the majors. Solana has traders…

August 31, 2025

Major XRP Price Prediction, Latest Pi Network News and The Crypto Being Called The Next PEPE Coin

From bold XRP price prediction headlines to fresh Pi Network news, 2025 has no shortage…

August 31, 2025

Pi Network News: Why 50% Of Crypto Holders Expect PI Price To Crash In 2026 As New Lows Expected In September

Crypto investors are keeping a close eye on Pi network updates, as nearly 50% of…

August 31, 2025

Cardano Price Vs Top Trending Altcoin Remittix: ADA Whales Back New $RTX As Real Utility Altcoin Hits $22.3M

The Cardano Price has been in the spotlight this week, with the project nearing possible…

August 31, 2025