Democrat and ranking member of the U.S. House Financial Services Committee Maxine Waters считает that the issued TRUMP memcoin could become a threat to national security for the country and open the door to corruption.
At the committee's Jan. 22 organizational meeting to adopt rules and oversight for the 119th Congress, Waters noted concerns about the lack of oversight of the cryptocurrency industry and other financial institutions.
She said the Republican plan is silent on reviewing actions taken by the current president, including potential conflicts of interest that could threaten the country's national security.
It is worth noting that a few days ago, Trump and his family released memecoins, which have sharply increased in price, further increasing his personal wealth.
Waters believes that it may be possible for sanctioned individuals, hostile governments and other bad actors to directly funnel money to Trump, and that is corruption.
Maxine Waters stressed that only clear and transparent regulation will help maintain control over the crypto market and prevent the use of cryptocurrencies for fraudulent activities and bribery of politicians.
