Exploring the intersection of Democratic senators, crypto ties, and Trump's stablecoin ambitions. Is USD1 the future of federal payments?
Alright, folks, let's dive into the whirlwind of Democratic senators, crypto connections, and Trump's grand stablecoin vision. It's a wild ride, so buckle up. The latest buzz? Legislation aimed at reining in crypto's influence on public officials, coupled with Trump's all-in embrace of stablecoins. Let's break it down, New York style.
Schiff's COIN Act: Keeping Crypto at Arm's Length
California Senator Adam Schiff and a crew of Democratic lawmakers are pushing the Curbing Officials’ Income and Nondisclosure (COIN) Act. Why? To prevent financial shenanigans by public officials dabbling in digital assets. Schiff's worried about Trump's crypto dealings, especially his ties to World Liberty Financial (WLF) and its USD1 stablecoin. The bill aims to stop officials from issuing, sponsoring, or endorsing cryptos before, during, and after their time in office.
Meanwhile, over in the House, California congresswoman Maxine Waters introduced the Stop Trading, Retention, and Unfair Market Payoffs, or TRUMP, in Crypto Act “to block Trump’s memecoin and stop his crypto corruption”.
Trump's Stablecoin Obsession: GENIUS or Bust?
Trump's not shy about his stablecoin stance. After the Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, he took to Truth Social, urging the House to pass a
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