Trump's "Encryption Committee" suffered defeat in its first vote in Congress, its influence was questioned
Internet reports reported that the "Cryptography Commission" established by Trump failed to exert its expected influence in the first key vote in Congress, leading to questions about the ability of White House Cryptography and AI Czar David Sacks and Bo Hines, executive director of the Digital Assets Advisory Board. The committee aims to promote cryptocurrency-related legislation, but failed to achieve a breakthrough in the recent vote on a bill on stablecoin regulation. Analysts point out that the committee's low-key operation and lack of clear policy direction make it difficult to gain sufficient support within Congress. In addition, crypto projects in which Trump and his family are involved, such as Trump Tokens and World Liberty Financial, have also raised concerns about ethics and conflicts of interest, further undermining the committee's credibility. Democratic lawmakers have expressed concern about these potential conflicts of interest and believe they may affect the fairness of relevant legislation. Currently, Trump's "Encryption Committee" faces the dual challenge of reshaping its image and enhancing its influence.
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