US senators attempt to ban Trump’s ‘profoundly corrupt’ crypto schemes | Science, Climate & Tech News
US senators are attempting to ban presidents and their families from investing in and promoting cryptocurrency, calling it a “profoundly corrupt scheme”.
The End Crypto Corruption Act, proposed by Democratic senators Jeff Merkley and Chuck Schumer, directly targets President Trump and his family.
The Trumps are thought to have made tens of millions from cryptocurrency ventures, including the $TRUMP and $MELANIA coins they launched days before the inauguration.
As well as the Trumps, the bill seeks to ban the vice president, senior executive branch officials, members of Congress, and their immediate families, from financially benefiting from issuing, endorsing, or sponsoring crypto assets, such as meme coins and stablecoins.
