Senators Oppose Trump's Crypto Conflicts

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End Crypto Corruption Act

CNBC

•

Business

Business & Economics

Trump's crypto agenda is being threatened by his pursuit of personal profits

Summary

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76% Informative

The "End Crypto Corruption Act," introduced by Senate Democrats , aims to prohibit elected officials and their families from issuing or endorsing digital assets.

The bill failed to advance in the Senate on Thursday due in part to concerns that President Trump 's personal cryptocurrency ventures have created an unprecedented conflict of interest.

Stablecoins are digital currencies that are pegged to the value of other assets like the U.S. dollar.

Sen. Blumenthal called for an investigation into Trump -linked coins.

Sen. Ruben Gallego , D- Arizona , had supported the GENIUS Act but said he couldn't move forward this week .

"We will be the laughing stocks of the world for this particular reason," Gilbert says.

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formal

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English

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