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Maxine Waters to Lead Crypto Committee with 'Tough but Fair' Rules
Former House Financial Services chair Maxine Waters is set to take over the House Financial Services Committee in January 2027, following the November 3, 2026 midterm elections where Democrats won control of both chambers. Waters has described her goal as 'tough but fair' rules for the crypto sector, a stance that critics, including former committee chairman Patrick McHenry, see as potentially harmful, particularly for crypto firms. Waters previously proposed the Crypto Investor and Consumer Bill of Rights in 2025, including requirements for monthly proof of reserves and 24-hour customer withdrawals.