House Democrats, led by Rep. Maxine Waters, D-Calif., walked out of a joint hearing of the Agriculture and Financial Services committees. Rather than participate in the planned hearing, the lawmakers decided to hold one of their own based on allegations of President Donald Trump and his family’s ties to the cryptocurrency industry.

House Financial Services Committee Chairman Rep. French Hill, R-Ark., responded to Ranking Member Waters’ objection to the hearing with a statement.

"Committee Republicans on Financial Services and the House Committee on Agriculture will continue to work with legislators on both sides of the aisle who are serious about creating a lasting framework that protects Americans, encourages innovation, and brings digital asset leadership back to the U.S."

This is a developing story, please check back for updates.