Representative Maxine Waters (D-CA) has issued a forceful rebuke of two proposed cryptocurrency bills, known as the CLARITY Act and the GENIUS Act: she warned their passage would "open the floodgates to massive fraud" and repeat the deregulatory mistakes that led to past financial crises.
What Happened: In an opinion piece published on Monday, Waters, who represents California's 43rd congressional district, argued that the crypto bills represent a direct threat to consumer safety, financial stability, and national security.
