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US President Donald Trump looks at himself when he acts outside the Western Wing in Washington, Colombia, May 8, 2025.
Kent Nishimura | Reuters
President Donald Trump It stands in its own way when it comes to acceptance of the cry.
Legislators this week rejected A genius act – The bill designed to establish federal rules of stabils – from the problems that the personal enterprises of President Trump have created an unprecedented conflict of interest.
“Currently, people who want to raise their influence with the president can enrich him personally by buying cryptocurrency,” he or she is in control, “” Late. Jeff MaurlieD -or. “This is a deeply corrupt scheme. It threatens our national security and blurred society’s confidence in the government.”
Stablecoins is digital currencies that are tied to the cost of other assets as the US dollar.
Admission to Congress is a cool heavy battle for the Republicans, given their majority in the ward, in the ward, requirements for the Senate form, and more and more Democrats’ position against President Trump’s agenda. But it seems that a stable law is on board to bring a rare victory for the president.
It’s up to $, Trump prevented.
President the same cornerWhich he launched just before the inauguration in January, the billions of paper added to it. Its account increased last month after the project passed promotion Offering Top $ Trump Dinner owners with the President and the VIP White House Excursion. Senator Richard BlumenthalD-Conn., He called it a “game scheme”. First Lady Melania Trump There is also a coin.
On Thursday, the Senate failed to advance in the Senate. It took 60 votes for the final passage to go to the Senate floor. The final count was 48 in favor and 49 against. Three senators did not vote.
At the beginning of the week, the Senate Democrats presented the “Corruption Act of the Finally Crypto”, led by Mercley and the minority leader Chuck Shumer New York designed to ban the elected officials and high -ranking executive officers and their families to issue or maintain digital assets.
But key defects in the legislation of stablacin occurred last weekend when a group of nine Senate Democrats – Four of which previously voted for the bill on the Committee .
“Permanent Self -Government”
Senator Lisa Blant Rochester from Delawer was one of four. She directed directly to Trump’s financial confusion.
“I also remain concerned about the constant self-government and financial conflicts of the Trump family,” she wrote in a statement on Thursday.
It is not just about Trump and Melania coins. There is also a Crypto Venture World Friece Fainancial Financial Financial, which was created last year and launched a stable part when the administration pushed to more free rules for digital assets.
Reports showed that MGX based Abu Dhabi Uses Trump’s stable plot for investing $ 2 billion in a crypto exchange, creating another potential conflict for the sitting president.
For some investors and entrepreneurs in the Krypto Industry, the president’s desire for personal profits creates a great obstacle for the long-awaited achievements. After many years of setbacks during the Biden administration, Kryptabul became a Powerful force In Trump’s financing 2024 and successfully supporting Congress candidates supporting industries.
“It is a pity that personal business is hindering good politics,” said Ryan Gilbert, founder of Fintech Fund LaunchPad Capital. “I hope everyone in the administration, including the president, came out of good politics.”
The White House did not respond to a comment request. At the press conference on Friday, the White House press secretary Carolina said, when asked about dinner, the monetors that “the president complies with all the laws on conflicts of interest.”
“The president is a successful businessman, and I think this is one of the many reasons when people have transformed him back into this office,” Levit said.
A number of best Democrats including Senator Elizabeth Warren with Massachusetts And Kirsten Gilibrand from New York joined the critics advice, focusing on President Trump’s personal classes. Guilibrand helped submit The law on the genius earlier this year, but this week she said that “there are a number of great issues that needed to be resolved before the bill could adopt a full Senate.”
“I believe that this is important for the future of the US economy and the daily Americans, which we accept strict stable rules and consumer protection where there is currently no,” Gilibrand said in a statement. “I remain extremely confident and hope very soon we will be able to finish work.”
Senator Blumental called for an investigation into coins related to Trump, demanding financial records from the world’s financial freedom and slamming the president for “attempts to use the White House to hold a $ Trump’s cost.”
Senator Ruben Galega, D. Arizona, supported the genius law, but said he could not move forward this week after the Republicans refused to ensure more time to negotiate.
“No more time to finish the bill, there was no real two -party way forward,” he wrote on X.
Gilbert Launchpad said the genius act is only the first work. Overall, the president’s conflicts may affect the hopes for other legislative achievements and efforts of deregulation, as well as the reputation of the US crystand.
“We will laugh the stocks of the world for this particular reason, and it holds back further investment and innovation,” Gilbert said. “In the last six months, we have been hope that we can lead to the US and that the investment should pour into the crypto business, and then it will be easier and do so again to take on the role and invest in the crystals.”
However, he said, “If the brilliant act does not pass, we will return to the square.”
See: The ether goes almost 25% for your best week for four years: CNBC Crypto World
