Democrats Oppose Trump's Crypto Projects

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CNBC

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Business

Business & Economics

Democrats push back against Trump's growing crypto empire

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Democrats turn up the pressure on President Trump 's cryptocurrency ventures this week .

Sen. Richard Blumenthal , D-Conn. , announced a preliminary inquiry into Trump ’s meme coin and stablecoin ventures , citing national security risks.

With Republicans in control of the White House and both chambers of Congress , Democrats have little power to push a legislative agenda.

The GENIUS Act was moving toward a Senate floor vote with bipartisan support until the weekend .

Nine Senate Democrats pulled back on the bill, citing weakened anti-money laundering safeguards and new fears that Trump 's inner circle could benefit from the policy shift.

The crypto industry is lobbying to push the bill forward.

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