U.S. Senate Democrats have introduced the End Crypto Corruption Act to prohibit presidents, lawmakers, and their families from issuing, endorsing, or profiting from cryptocurrencies. The legislation targets President Trump's crypto ventures, including the $TRUMP and $MELANIA coins, which have significantly increased his wealth.
Senator Jeff Merkley described the situation as a "profoundly corrupt scheme" that threatens national security and public trust. The bill also addresses concerns over a $2 billion deal involving a Trump-backed crypto company and a foreign firm, which may pose constitutional and ethical issues.
- Source: Sky News - https://news.sky.com/story/us-senators-attempt-to-ban-trumps-profoundly-corrupt-crypto-schemes-13363230
