Senate Democrats Propose Bill to Ban Federal Officials from Issuing Digital Assets

According to Odaily, Senate Democrats announced on Tuesday a new legislative proposal aimed at prohibiting federal officials and their families from issuing digital assets. This move comes after they withdrew support for the Senate's initial stablecoin regulation bill. The proposed legislation targets digital assets currently held by U.S. President Donald Trump and his family, including stablecoins and meme coins. Senator Jeff Merkley, a Democrat from Oregon, introduced the bill, stating that the current situation allows individuals seeking to establish connections with the President to purchase cryptocurrencies owned or controlled by him, thereby personally benefiting the President. Merkley described this as an extremely corrupt practice that threatens national security and undermines public trust in the government. He emphasized the urgent need to put an end to such corruption.