Congresswoman Sylvia Garcia and Democratic Colleagues Walk Out of Republican Crypto Sham Hearing

WASHINGTON, D.C. – Today, Congresswoman Sylvia Garcia (D-TX-29) and her Democratic colleagues walked out of a rare joint hearing between the House Financial Services Committee and the House Agriculture Committee, after Republicans turned it into a platform to rubber-stamp President Trump’s latest scheme to enrich himself and his family through the power of his office.

“This wasn’t a fair hearing—it was a sham,” said Congresswoman Garcia. “While my constituents are worried about affording groceries, Donald Trump is trying to line his pockets. He is a grifter, plain and simple—and Republicans are helping him get away with it.”

The hearing, focused on cryptocurrency regulation, was convened under the unusual authority of both committees—required to unanimously agree to hold a joint session. At the start of the hearing, Democrats requested a single common sense safeguard: a simple amendment to bar the President, Members of Congress, and other public officials from personally profiting from the sale of cryptocurrencies. Republicans flat out refused.

This comes as a Trump business entity owns 60 percent of World Liberty Financial, a crypto startup, and is entitled to 75 percent of all revenue from coin sales. 

“Instead of prioritizing his job as our nation’s leader, President Trump is using his position to strip financial regulators of their independence, all to line the pockets of his friends and his family, many of whom are now listed as members of the World Liberty Financial team,” added Congresswoman Garcia. “This is such a direct, obvious, in-your-face conflict of interest, that it’s outrageous there is no bipartisan outrage against this. When a company lists the President of the United States as ‘Chief Crypto Advocate’ it’s a clear signal that the President and his family are cashing in."

Rather than let their constituents' voices be silenced in the Republican sham hearing, Congresswoman Garcia and her Democratic colleagues held their own session focused on the facts, the law, and the urgent need for ethical regulation of digital assets.
 

Watch the hearing HERE.