US Senate and House of Representatives, Trump Sniping···Promoting Bill to Ban Government Officials from Generating Profits through Coins

U.S. Democratic Senators Announce Submission of GENIUS Bill Amendment
Interpretation of Movement Targeting Trump Family's Stablecoin Launch in March
Congresswoman Maxine Waters Introduces 'Trump Cryptocurrency Intervention Prohibition Act'

Democratic senators and representatives from the United States are pointing out the actions of President Trump, who generated revenue through cryptocurrencies, and are pushing a bill to prohibit government officials from generating revenue through cryptocurrencies.

Chuck Schumer, Elizabeth Warren, and Jeff Merkley, U.S. Democratic senators, recently announced the submission of a GENIUS bill amendment for stablecoin regulation in the United States to the Senate.

Senator Merkley stated on his X account on the 22nd, "Passing the GENIUS bill without provisions for corruption prevention is equivalent to giving President Trump unlimited power."

The GENIUS bill, a regulatory proposal for stablecoins, passed the Senate vote on the 20th with 66 to 32 votes. It includes provisions requiring companies issuing stablecoins to obtain approval from federal or state regulatory agencies and undergo regular inspections. By adding amendment provisions to the GENIUS bill, they aim to prevent indiscriminate revenue generation by President Trump and his family.

In March this year, the DeFi project 'World Liberty Financial' led by the Trump family launched a U.S. dollar-pegged stablecoin.

Efforts to stop President Trump's cryptocurrency revenue generation also emerged in the House of Representatives.

Meanwhile, Congresswoman Maxine Waters, a U.S. Democratic representative, introduced the 'Stop TRUMP in Crypto Act' in the House on the 22nd, which prohibits major government officials from issuing and holding cryptocurrencies.

The bill includes provisions prohibiting the president, vice president, House representatives, and their families from holding, trading, and promoting cryptocurrencies during their government high-level positions.

Reporter Seung-won Kwon ksw@blockstreet.co.kr