After suddenly withdrawing their support from what could have been the first Senate regulatory bill in the Senate, Democrats in the Senate announced on Tuesday that they would submit a new bill to prevent federal officials and their families from issuing digital assets – a draft law directed to Donald Trump and his current family from Stablecoin and Meme Coin Holdings.
“At the present time, people who want to grow influence with the president can personally enrich it by purchasing or controlling an encrypted currency,” said Senator Jeff Merkeley (MD), who submitted the draft law to the Senate Hall. In a press release. “This is a deep, corrupt scheme. It exposes our national security and leads to the erosion of the public’s confidence in the government. Let’s end this corruption immediately.”
The final corruption law for encryption comes in response to fears within the Democratic Party that the Genius Act, which had strong support from the two parties in the past, was insufficient to prevent corruption. Although the Senate Banking Committee approved the draft law in March by voting from the two parties, two subsequent development According to what the Democrats were stated to change the path. Firstly, A New York Times a report Last week, the Trump family could earn two billion dollars of Stablecoin with an investment company based in Dubai under the current organizational framework. second, Trump announced a competition In April, where the best Mimi currency holders will win a special dinner with the president, and will win the top 25 holders with an additional tour of the White House. According to a report issued by Chainalysis, the officials of the official Trump, Trump, received $ 320 million from trading fees from the competition alone.
Although they admitted that there is not much that they could do to stop the president now (see: no laws), Senate Republicans as well Express doubts from the $ Trump to NBC competitionAnd, at least, Senator Senator Lomes of Wyoming, offered to one strong ally, to partnership with Democrats in efforts to organize legislators who hold digital origins. She told NBC: “Even what may seem” Cringey “regarding coins, it is legal, and what we have to do is to have an organizational framework that makes this more clear, so we do not have this wild Western scenario.”
