Trump's "Crypto Committee" Faces Setback in First Congressional Vote, Influence Questioned
The "Crypto Committee" established by Trump failed to exert the expected influence in the first key vote in Congress, leading to questions about the capabilities of the White House's crypto and AI czar David Sacks and the executive director of the Digital Asset Advisory Committee, Bo Hines. The committee aims to promote cryptocurrency-related legislation but failed to make a breakthrough in the recent vote on a stablecoin regulation bill. Analysts point out that the committee's low-profile operations and lack of clear policy direction make it difficult to gain sufficient support within Congress. Additionally, crypto projects involving Trump and his family, such as Trump tokens and World Liberty Financial, have raised concerns about ethics and conflicts of interest, further undermining the committee's credibility. Democratic lawmakers have expressed concerns about these potential conflicts of interest, believing they may affect the fairness of related legislation. Currently, Trump's "Crypto Committee" faces the dual challenge of reshaping its image and enhancing its influence.
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