House Financial Services Committee Ranking Member Maxine Waters (D-CA) and Senate Banking Committee Ranking Member Elizabeth Warren (D-MA) wrote a letter to SEC Acting Chair Mark Uyeda, requesting information on the agency’s approach to regulating the Trump family’s crypto venture, World Liberty Financial, and demanding transparency regarding conflicts of interest and whether President Trump’s financial ties have influenced SEC decision-making. In the letter, the lawmakers note the SEC's decision to pause its enforcement case against Justin Sun, a major investor in World Liberty Financial.

The House Financial Services Committee marked up and advanced the STABLE Act (H.R. 2392) in a vote of 32-17. Democrats offered numerous amendments, many of which focused on conflicts of interest related to Trump Administration officials, as well as anti-money laundering and consumer protections. None of the amendments were passed by the Committee. The Committee also advanced the Financial Technology Protection Act (H.R. 2384) and the Anti-CBDC Surveillance State Act (H.R. 1919). No amendments were offered to the other two bills.

House Financial Services Committee Democrats tweeted about President Trump’s crypto ventures, stating that they will “try to block the President from replacing the dollar we use with his own stablecoin” during the Committee markup today. The lawmakers cited a Forbes article about President Trump's crypto ties, stating that "it looks like using the Office of the President to create sketchy crypto ventures to scam your own supporters out of BILLIONS can, in fact, double your wealth."

House Financial Services Committee Republicans sent letters to multiple agencies requesting the rescission, modification, or re-proposal of certain Biden Administration actions. On digital assets, the lawmakers wrote to Acting FDIC Chair Travis Hill and Acting CFPB Director Russ Vought, urging them to withdraw “several regulatory actions that have stifled innovation, restricting financial institutions’ engagement in digital assets and hindering the growth of fintech companies.” The lawmakers also sent letters to the Federal Reserve and OCC.

Alongside the Financial Freedom Act announced yesterday, Sen. Tommy Tuberville (R-AL) also reintroduced the Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act (S. 1223), which would prohibit the CFTC from registering a digital commodity platform owned in whole or in part by an entity organized or established in China. The bill also requires the CFTC to revoke the registration of any digital commodity platform in the event an entity with ties to the CCP acquires all or any part of the ownership of the entity. Sens. Jim Justice (R-WV) and Cindy Hyde-Smith (R-MS) are cosponsoring the bill.

Sen. Ted Cruz (R-TX) introduced the Facilitate Lower Atmospheric Released Emissions (FLARE) Act, which would incentivize entrepreneurs and crypto miners to utilize natural gas that would otherwise be stranded. Specifically, the bill would provide permanent full expensing for infrastructure that captures and utilizes flared gas, creating strong incentives for industries to turn wasted energy into productive use cases. The press release argues that crypto miners are uniquely positioned to help reduce emissions by harnessing this energy source.

House Financial Services Committee Chair French Hill (R-AR) told reporters that the personal crypto dealings of President Trump and his family have made drafting legislation for the industry “more complicated.” The statement comes after several congressional Democrats criticized the Trump family's recent crypto moves last week.

Sen. Chuck Grassley (R-IA) said in a post on X that he met with CFTC chair nominee Brian Quintenz to discuss the agency’s whistleblower protection program and spot crypto markets, as well as the future of the CFTC. President Trump nominated Quintenz on February 11, though the Senate has yet to formally take up his nomination.

The Senate Banking Committee is scheduled to vote Thursday on Paul Atkins’ nomination to serve as SEC Chair. The Committee will also vote on the nominations of Jonathan Gould to be Comptroller of the Currency, Luke Pettit to be Assistant Secretary of the Treasury, and Marcus Molinaro to be Federal Transit Administrator.