US Crypto Regulation May Be Poised for Major Shift as "Hardliner" Waters Officially Announces Bid for Financial Services Committee Chair

Odaily reports: U.S. Representative Maxine Waters (D-CA) has officially announced her bid for Chair of the House Financial Services Committee, outlining her policy agenda in a letter to Democratic lawmakers. Democrats are expected to decide on key committee positions in the coming weeks.

In the crypto space, Maxine Waters has proposed establishing "strict but fair regulatory rules" for compliant crypto companies and strengthening scrutiny of the digital asset industry. She also plans to push for legislation that would better equip the financial system and economy to address the impacts of AI, while focusing on private equity industry regulation, consumer fees, credit reporting, and mortgage financing reform.

Maxine Waters has served as the Ranking Member of the House Financial Services Committee since 2013. Additionally, Representative Sean Casten (D-IL) has also announced his bid for the committee chair, with a policy agenda that similarly addresses emerging risks from cryptocurrency, prediction markets, and artificial intelligence, and proposes strengthened oversight of corporate and consumer fraud. (Bloomberg)