Trump’s Memecoin and Crypto Investment Complicate Legislation, Says Rep. French Hill

U.S. President Donald Trump’s initiatives in the cryptocurrency sector, particularly the introduction of his TRUMP memecoin in January, have stirred complications in the bipartisan push for stablecoin legislation, remarked Rep. French Hill on Wednesday at the Consensus 2025 event held in Toronto.

Despite these hurdles, Hill, who heads the House Financial Services Committee and recently unveiled a draft for a crypto market structure bill, indicated that a significant bipartisan agreement persists regarding the necessity for crypto regulation. This comes amid mounting concerns from Democrats regarding possible conflicts of interest and the unclear nature of Trump’s personal cryptocurrency investments.

“In spite of the political complexities surrounding Trump’s memecoin and his investment activities, I’m confident that many responsible members from both parties are collaborating behind the scenes to establish agreement,” Hill articulated during his pre-recorded interview with CoinDesk.

Hill added that the bipartisan agreement extends beyond just stablecoin regulations within the U.S. and that there is a shared recognition among lawmakers of both parties for the need for a coherent market structure bill.

“While I don’t want to resort to clichés like peanut butter and jelly, these pieces of legislation are interconnected. If you possess a stablecoin, what can you use it for? How will it facilitate transactions in other digital asset arenas? That’s why having both pieces of legislation is essential,” he stated.

During the Digital Assets Summit at the White House in March, Trump expressed his desire for Congress to deliver both a stablecoin bill and a market structure bill to his desk ahead of the extended August recess.

Hill expressed optimism about meeting this timeline. “I think we can accomplish that. We’re making good progress, and we just need to maintain our efforts to meet President Trump’s timeframe,” he affirmed.