Resolution Proposed to Restrict Digital Asset Involvement by U.S. Officials

According to Foresight News, California Democratic Representative Ro Khanna has introduced a resolution aimed at supporting legislation to prohibit the issuance, sponsorship, or endorsement of digital assets by the President, Vice President, members of Congress, public office candidates, public officials, senior executive branch employees, special government employees, and their immediate family members. This includes cryptocurrencies, meme coins, stablecoins, tokens, NFTs, digital trading cards, and DeFi platforms. The resolution also advocates for elected officials, candidates, and their immediate family members to transfer their digital assets into a blind trust, which would be inaccessible during the politician's candidacy, tenure, and for two years after leaving office. Additionally, it supports the requirement for politicians, candidates, and their families to fully and promptly disclose all cryptocurrency transactions. Fox News reports that the resolution is unlikely to pass in the House of Representatives due to the Republican majority. Furthermore, even if the resolution is approved, it would still need to undergo the legislative process to be enacted into law.