Democrats, during the June 6, 2025 hearing on the digital asset market structure bill, commonly referred to as the Clarity Act, raised concerns, along with Democrat-selected witnesses, about the Trump family's involvement in cryptocurrency ventures and potential loopholes in the bill that could enable traditional financial firms to circumvent existing securities regulations
The Clarity Act includes loopholes, that, according to expert's testimony before the House Financial Services Committee on June 6, 2025, would allow traditional financial institutions to move corporate actions, like capital raising, onto blockchain networks in order to avoid U.S. Securities regulation
Amanda Fischer, former chief of staff to SEC Chair Gary Gensler, cited Robinhood CEO Vlad Tenev as an example of how firms could exploit the Clarity Act to bypass securities laws, saying that Tenev described running a crypto business as “an order of magnitude” cheaper and that Robinhood has signaled plans to tokenize assets to shift operations to blockchain to avoid paying for "customer protection, SEC exams, or SIPC insurance”
