In response to Trump's connection to the cryptocurrency industry
PANews reported on June 24 that according to Cointelegraph, U.S. Senator Adam Schiff, along with 9 Democratic lawmakers, proposed the COIN Act, which aims to prevent President Trump and public officials from issuing, promoting, or endorsing cryptocurrencies during the 180 days to 2 years before and after their term. The proposal comes in direct response to the $57.4 million income revealed by World Liberty Financial ($WIF ), a cryptocurrency platform linked to the Trump family, and the stablecoin $USD1 launched by WLF in March.
The bill specifically targets stablecoins for payments and seeks to expand the current reporting requirements of Law #stock to include digital assets. Earlier, Representative Maxine Waters proposed a similar bill titled "Cryptocurrency Corruption Prevention Act of Trump", but with both chambers of Congress in a minority Democratic position, the passage of the bill remains uncertain. #BinanceAlphaAlert #MarketRebound #NEWTBinanceHODLer #BinanceTGEXNY
