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Democratic Senator Introduces Bill to Prohibit US Officials from Promoting or Issuing Cryptocurrencies
Summary: In breaking news, according to The Block, Democratic Senator Adam Schiff introduced legislation on Monday aimed at prohibiting public officials, including the President and their immediate family members, from issuing or endorsing cryptocurrencies. In a statement released on the same day, Adam Schiff stated that the bill, named the Curbing Officials' Income and Nondisclosure Act ...
In breaking news, according to The Block, Democratic Senator Adam Schiff introduced legislation on Monday aimed at prohibiting public officials, including the President and their immediate family members, from issuing or endorsing cryptocurrencies.
In a statement released on the same day, Adam Schiff stated that the bill, named the Curbing Officials' Income and Nondisclosure Act (COIN Act), seeks to prevent senior public officials from issuing, promoting, or endorsing any digital assets, including meme coins, NFTs, or stablecoins. The ban would apply to the period 180 days before the start of a term until two years after the term ends.
Adam Schiff highlighted that Trump's involvement in cryptocurrencies raised serious ethical, legal, and constitutional questions, suggesting that he may have used his presidential authority for personal gain. There is a need for stricter scrutiny of the President's financial activities and to prevent him or any other political figures from profiting through similar operations.
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Link: Democratic Senator Introduces Bill to Prohibit US Officials from Promoting or Issuing Cryptocurrencies [Copy]
