Rep. Green Criticizes TRUMP Coin at Congress Hearing

The aim of the hearing was to discuss the negative impacts of the previous presidential administration on the crypto industry with industry experts, including MARA Holdings CEO Fred Thiel and Coinbase attorney Paul Grewal.

While some argued that the Biden administration carried out a policy to debanking the crypto ecosystem – meaning to deny basic banking services to crypto businesses – Congressman Al Green from Texas doubted it was true.

He stated that “Operation Choke Point 2.0” is a made-up term, as there was no official document or policy from the Biden administration or U.S. regulators supporting its existence. Green suggested that a more accurate title for the hearing would be: “How President Trump’s Deregulation Puts Investors at Risk.”

The Congressman acknowledged the challenges of financial regulation, noting the difficulty of balancing deregulation and overregulation. However, he emphasized the importance of setting clear rules to prevent fraud, scams, misleading representations, and other risks.

Green referenced a January 2023 joint statement from federal financial regulators warning banks about crypto asset risks. He argued that these concerns should not be interpreted as an effort to debank the industry.

Al Green Criticized the TRUMP Coin 

Discussing Trump’s approach to cryptocurrency, Rep. Al Green highlighted the TRUMP memecoin, which was issued just days before his inauguration and heavily promoted on social media.

Green warned that investors who saw the coin as a way to get rich quickly might be overpaying for “something of dubious value” and could suffer losses if the price crashes in a sell-off.

Meanwhile, the TRUMP coin’s terms and conditions prohibit buyers from filing a class-action lawsuit, limiting legal options for investors.

Beyond the lack of investor protection and transparency, issuance of the money Trump coin also creates an avenue to circumvent national security and anti-corruption laws allowing any interested party including adversaries and allies to anonymously transfer money to the President and his family,

– Green stated. 

Also, this month, Al Green introduced Articles of Impeachment against President Donald Trump. These are formal charges brought against Trump, criticizing him for international policy and injustice.

Will the Crypto Sector Have Clear Rules?

As discussions heat up about whether the Biden administration practiced overreach against the crypto industry, the sector continues to wait for a clear regulatory framework.

President Donald Trump’s administration has sig naled a more hands-on approach through the creation of a crypto task force. Shortly after returning to office in 2025, Trump announced the formation of a special task force led by Hester Peirce, aimed at developing a clear regulatory framework for digital assets.

During the recent hearing, crypto executives once again raised concerns about pressure on the sector, lack of guidance, uncertainty, and regulatory bias.

MARA CEO Fred Thiel stated that despite the benefits of blockchain and digital assets, the industry has been treated unfairly, becoming the subject of unprecedented actions that threaten innovation. Thiel emphasized that all companies should be treated fairly and have equal access to basic financial services.

While the crypto community continues to raise its voice, it remains unclear when new rules will come and what they will entail.