Trump Memecoins Complicate Legislative Effort, GOP Lawmaker Says

House Financial Services Chairman French Hill said activity by President Donald Trump in cryptocurrency and memecoins has complicated work in Congress to pass legislation that’s been in the works for years.

“It’s absolutely fact,” Hill said, “the Trump family engagement in the memecoin world has made this work more complicated, because it has distracted, I think our members, both Republican and Democrat, from what we need to do.” He was responding to a question at the Reagan National Economic Forum on Friday in Simi Valley, California.

French Hill

Photographer: Kent Nishimura/Bloomberg

“We’ve worked for five years, in the House particularly, to have a strong ...