The American senator Adam Schiff was among the many democrats who voted to adopt the bill on the stables last week, but while the Senate passes to the legislation establishing regulations for the wider American cryptographic markets, Schiff introduced another effort to prohibit President Donald Trump and other main leaders of the government to deliver or sponsor the cryptocurrencies.
The Californian democrat’s legislation joins at least four other bills that seek in the same way to prevent senior government officials and legislators from associating directly in cryptographic companies.
Such concerns appeared during the debate on the law of guide and establishment of national innovation of the Stablescoins (engineering) law, and for a short time, the bill was interrupted for this concern and other concerns of democrats who otherwise favored the legislation. Some have argued that the best place to argue the statements of government corruption is in the market structure bill which is at the heart of what the sector is looking for in Washington.
Schiff’s new bill, known as civil servants’ income law and non -disclosure (corner), would like – would like others – prohibit the president, vice -presidents, members of the congress and other important government officials “to deliver, sponsor or approve digital assets, including Mem, NFTS, or stables” ” Years after that.
“President Donald Trump’s cryptocurrency relations have raised important ethical, legal and constitutional concerns concerning his use of the presidency office to get rich himself and his family,” said Schiff when he presented the bill, also supported by at least four other Democrats in the Senate.
The main political action committee of the cryptographic industry, the FAIRSHAKE Super PAC, spent more than $ 10 million to oppose the Democratic opponent of Schiff in his success for the Senate last year. He was buffered with a note A to be strongly favorable to the policy of digital assets by the group’s defense group with Crypto.
To succeed, any Crypto bill needs significant support from the Senate Democrats to strengthen the reliable favor of almost all the Republicans of this Chamber. Schiff is one of the 18 Democrats who came out in favor of the Act on Engineering.
He is not the only ally of crypto in the congress which looks at the president’s family ties to tens of millions of profits disclosed from digital assets. The representative Ritchie Torres, a New York Democrat, is among the most vocal supporters of the crypto in the House of Representatives, and he presented a bill last month which is largely in line with what Schiff pursues.
Similar legislation has also been presented by other Democrats, notably Senator Chris Murphy du Connecticut; Representative Maxine Waters, the classification democrat of the Chamber’s Financial Services Committee; And the representative Sam Liccardo of California. Such bills are very unlikely to progress in the congress controlled by the Republicans, although their supporters can seek to insert them in other laws, such as the other legislative priority of the cryptographic industry.
In recent years, President Trump has gone from skeptical crypto to digital asset entrepreneur, launching waves of non -buttocks (NFTS), a same self -proclaimed and various crypto efforts by World Liberty Financial, including his own stablecoin. Trump has repeatedly said that it was impatient to sign significant cryptography legislation to secure the United States as a leader in industry. Many Democrats, however, oppose his own family to take advantage of the policies that Trump’s administration would be written.
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