🏛️🤯 ¡TRUMP COMPLICATES CRYPTO LAWS! Links to crypto "add challenge" to the approval of bills.
According to the legal director, Paul Grewal, he pointed out that Donald Trump's crypto ventures are complicating the approval of legislation related to cryptocurrencies in the U.S.
Grewal mentioned that there have been "setbacks" in Congress since the Senate Banking Committee moved forward with the GENIUS Act 📜. Although there are disputes over "substantial issues," Trump's involvement in the industry is a "complicated factor" 🤯.
Democrats, led by Senator Elizabeth Warren, have expressed concerns about potential conflicts of interest and corruption ⚠️, specifically citing the Trump family's stablecoin USD1. Some supporters of the bill, such as Senator Kirsten Gillibrand, have proposed removing the language that specifically targets Trump's ventures 🤝.
The Senate is expected to vote on the GENIUS Act again in a few days 🗓️, after receiving assurances that concerns regarding consumer protection, AML, and national security will be addressed 🛡️.
The House of Representatives is also considering a bill on the structure of the digital asset market, but Democrats are rejecting it due to the "crypto corruption of Trump" 😠.
Grewal believes that progress on the GENIUS Act will provide clues about Congress's appetite to address these issues 🔍.
Do you think Trump's ties to cryptocurrencies will significantly affect regulation in the U.S.? 🤔 Will Democrats and Republicans be able to reach an agreement?
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