French Hill, Chairman of the House Financial Services Committee, said Trump's meme has complicated legislative work

According to Bloomberg, French Hill, Chairman of the House Financial Services Committee, stated that President Trump's activities in the cryptocurrency and meme sectors have complicated the legislative work that Congress has been brewing for years. French Hill has been committed to seeking bipartisan support for stablecoins and market frameworks for the past five years, and believes that the stablecoin bill and market framework bill will provide clear rules for digital assets. At the Reagan National Economic Forum held in Simi Valley, California, French Hill stated, "The involvement of the Trump family in the field of memes has made this work more complex because I believe it has diverted the attention of our Republican and Democratic lawmakers from what we truly need to do." In addition, French Hill warned potential traders to be wary of potential risky assets, including memes.