After abruptly pulling their support from what would have been the Senate’s first stablecoin regulatory bill, Senate Democrats announced Tuesday that they would introduce a new bill that would prevent federal officials and their families from issuing digital assets – a bill directed at Donald Trump and his family’s current stablecoin and meme coin holdings.
“Currently, people who wish to cultivate influence with the president can enrich him personally by buying cryptocurrency he owns or controls,” said Sen. Jeff Merkley (D-OR), who introduced the bill to the Senate floor, in a press release. “This is a profoundly corrupt scheme. It endangers our national security and erodes public trust in government. Let’s end this corruption immediately.”
I guess…it’s something. Far from actually doing anything that will do more than give Trump something to post about on X though.
Ancient_Popcorn on
Like, wouldn’t that fall under the Emoluments Clause? Like, couldn’t Congress just enforce the actual law on the books?
no_kids-and-3_money on
I like it. It’s one step towards getting money out of politics. But it has to be part of a much more comprehensive approach including politicians barred from owning stocks, insider trading, contractor oversight and dark money out of political campaigns. And all of that would require getting your own house in order Democrats.
williamgman on
Too late. That would have been great when Congress meant something.
Kind-City-2173 on
Good. Make Republicans vote on record against common sense bills
AnimorphsGeek on
How about banning any elected official from holding investments?
KrookedDoesStuff on
And the republicans will shoot it down :/
Open-Year2903 on
Emoluments clause 🤔
PotatoeGuru on
Presidents should not make outside income PERIOD while in office.
bunceman716 on
lol good luck
greenbigman on
Why are they just fucking around doing things they know will go nowhere?
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After abruptly pulling their support from what would have been the Senate’s first stablecoin regulatory bill, Senate Democrats announced Tuesday that they would introduce a new bill that would prevent federal officials and their families from issuing digital assets – a bill directed at Donald Trump and his family’s current stablecoin and meme coin holdings.
“Currently, people who wish to cultivate influence with the president can enrich him personally by buying cryptocurrency he owns or controls,” said Sen. Jeff Merkley (D-OR), who introduced the bill to the Senate floor, in a press release. “This is a profoundly corrupt scheme. It endangers our national security and erodes public trust in government. Let’s end this corruption immediately.”
Read more from Tina Nguyen: https://www.theverge.com/news/662313/meme-coin-stablecoin-genius-act-corruption-trump
I guess…it’s something. Far from actually doing anything that will do more than give Trump something to post about on X though.
Like, wouldn’t that fall under the Emoluments Clause? Like, couldn’t Congress just enforce the actual law on the books?
I like it. It’s one step towards getting money out of politics. But it has to be part of a much more comprehensive approach including politicians barred from owning stocks, insider trading, contractor oversight and dark money out of political campaigns. And all of that would require getting your own house in order Democrats.
Too late. That would have been great when Congress meant something.
Good. Make Republicans vote on record against common sense bills
How about banning any elected official from holding investments?
And the republicans will shoot it down :/
Emoluments clause 🤔
Presidents should not make outside income PERIOD while in office.
lol good luck
Why are they just fucking around doing things they know will go nowhere?