BlockBeats report: On April 18, according to foreign media, Congresswoman Maxine Waters, a Democrat from California, is a thorn in the side of cryptocurrency on Capitol Hill. As a senior member of the House Financial Services Committee, she has consistently advocated for stricter regulation of cryptocurrencies to reinforce her authority. Meanwhile, approximately 69% of the campaign funding for Waters’ challenger, Myla Rahman, a nonprofit executive, comes from the crypto industry, sparking market concern over "crypto capital influencing politics."
Data shows that since entering the race in February, Rahman has raised approximately $14,500, with the largest single donation coming from Brad Garlinghouse ($6,600). Executives from the Solana Policy Institute have also provided support.
As one of the most vocal Democratic advocates for crypto regulation, Waters has long pushed for stronger industry oversight; if Democrats win the midterm elections, she is poised to become chair of the Financial Services Committee. Analysts believe this potential shift is prompting the crypto industry to proactively allocate political resources in an effort to shape future regulatory frameworks.
Currently, the crypto industry is pushing for the passage of the Clarity Act to secure a more favorable regulatory environment, but the bill faces strong opposition from the traditional banking system, which fears it could trigger a shift of deposits toward crypto markets.
Notably, despite her regulatory stance, Waters has also received political contributions from Chris Larsen, demonstrating how crypto capital is diversifying its influence across both parties and differing regulatory positions.