House Financial Services Committee Chairman French Hill has expressed concern that President Donald Trump’s recent involvement in cryptocurrency—specifically in the memecoin sector—is disrupting years of bipartisan legislative progress.
According to a report by Bloomberg, Hill stated that political distractions tied to the Trump family’s engagement with memecoins have made it harder for lawmakers to maintain focus on critical regulatory efforts.
Speaking at the Reagan National Economic Forum in Simi Valley, California, Hill explained that both Republican and Democrat members of Congress have been sidetracked from advancing comprehensive crypto legislation. “It’s absolutely fact,” Hill said, as cited by Bloomberg. “The Trump family engagement in the memecoin world has made this work more complicated.”
Hill emphasized that Congress has spent five years building bipartisan consensus on stablecoin regulation and a broader digital asset market framework. He argued that current concerns over memecoins further highlight the urgency of passing structured legislation. “If you’re concerned about memecoins… then you need to help me pass a stablecoin bill and a market framework bill,” Bloomberg quoted him as saying.
According to the information, Hill also issued a warning to investors about the risks tied to low-value and speculative digital assets. Drawing a parallel to risky traditional investments, he said traders should be cautious about highly volatile memecoins, likening them to obscure, thinly traded junior mining stocks that lack reliable reporting.
As reported by Bloomberg, Hill’s comments reflect growing anxiety among policymakers who see the rise of politically charged crypto involvement as an obstacle to the clear and structured regulation the industry urgently needs.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/trumps-memecoin-activity-complicates-crypto-legislation-says-house-chair/