The U.S. House Financial Services Committee held a Minority Day hearing on June 7 to further discuss the Clarity Act, a proposed crypto regulation bill. Democratic lawmakers raised concerns about potential conflicts of interest involving former President Trump, suggesting his past cryptocurrency investments could influence the bill's outcomes. Representative Maxine Waters highlighted the risk of Trump using the legislation for personal gain. Legal experts at the hearing also voiced worries about regulatory exemptions, potential loopholes, and cybersecurity risks within the bill. Meanwhile, Republicans argued that the U.S. lacks a comprehensive federal framework for non-securities digital assets, asserting that the Clarity Act would address this regulatory gap. The bill is slated for a vote next week.