Trump Avoids Direct Answer on Crypto Divestment for Legislation
US President Donald Trump declined to specify whether he would divest from his family’s cryptocurrency ventures to facilitate passage of crucial cryptocurrency legislation. At a White House press briefing, Trump stressed the strategic value of America’s leadership in crypto, warning that without it, nations like China might take the lead.
Lawmakers Express Concerns Over Potential Conflicts
Multiple Democratic lawmakers have raised objections about possible conflicts of interest, with some refusing to back crypto bills unless these issues are resolved. Their position reflects increasing scrutiny of how personal financial stakes intersect with policymaking in this fast-changing sector.
COIN Act Targets Presidential Crypto Involvement
California Senator Adam Schiff proposed the Curbing Officials’ Income and Nondisclosure (COIN) Act to address these concerns. The bill would ban the president, his relatives, and executive branch members from issuing or promoting digital assets, which Schiff calls “clear corruption.”
Senate Approves Stablecoin Bill Without Key Limits
The Senate passed the GENIUS Stablecoin bill, marking progress toward comprehensive crypto regulation. However, it omitted Democratic amendments that would have restricted presidential crypto activities, reigniting debates about balancing innovation with oversight.
Ongoing Challenges in US Crypto Regulation
The United States continues grappling with cryptocurrency regulation complexities. Disputes persist about conflicts of interest and government’s proper role in the industry. Bipartisan efforts to create a regulatory framework highlight crypto’s rising economic significance and global implications.
