Dems Balk At Crypto Bill As Trump Family Profits Off Tokens
WASHINGTON — Legislation desperately sought by the crypto industry appeared to be on track for passage this month with the backing of a key bloc of Democrats — but President Donald Trump’s use of cryptocurrency to enrich his family may have derailed the proposal at the last minute.
Nine Democrats, some of whom received millions of dollars in crypto industry backing when they ran in the 2024 elections, were set to back legislation regulating the digital assets known as stablecoins. But over the weekend, in a move surprising both the industry and the GOP, they announced they could no longer support the bill unless there were stronger protections against money laundering and financial instability.
Their about-face, however, may have…
