Democratic senator proposes to ban the president from investing in or supporting cryptocurrency assets

ChainCatcher news, according to The Verge, after suddenly withdrawing support for the Senate's first stablecoin regulatory bill, Senate Democrats announced on Tuesday that they will introduce a new bill prohibiting federal officials and their families from issuing digital assets, directly targeting the stablecoins and meme coins currently held by Trump and his family.

The bill's sponsor, Oregon Democratic Senator Sen. Jeff Merkley, stated, "Currently, anyone hoping to establish a relationship with the president can profit personally by purchasing cryptocurrencies that he owns or controls, which is an extremely corrupt act that threatens our national security and erodes public trust in government. We must put an end to this corruption immediately."