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- Senator Kirsten Gillibrand is renewing her calls to ban politicians and their spouses from issuing or promoting crypto assets, including meme currencies.
- President Donald Trump revealed this week that he earned more than $1.2 billion in cryptocurrencies last year, including more than $635 million from his Solana meme.
- The push is part of a broader ethics push by Gillibrand, who has also worked to restrict Congress’s trading in prediction markets and stocks, citing concerns about self-dealing and insider trading.
Following the revelation this week that President Donald Trump He earned more than $1.2 billion From his crypto endeavors last year, New York State Senator Kirsten Gillibrand once again called for a ban on the issuance and promotion of digital assets to politicians and their spouses.
The ban will extend to include digital currencies that Trump and his wife, First Lady Melania Trump, have benefited from over the past year, with the president reportedly earning more than $635 million from his money. SolanaMeme based currency alone.
“This is a commonsense demand that should have broad, bipartisan support — public officials and their spouses should not issue coins,” Gillibrand said in an article. statement.
“We cannot allow self-transactions to destroy an opportunity to strengthen consumer protections, crack down on illicit finance, and expand economic opportunity for millions of Americans left behind by our financial system,” she added.
Gillibrand, who is among the most pro-crypto Democratic senators, has been leading an ethics charge regarding the actions of congressional staff. Earlier this year, she led a bipartisan effort to retain her Members of Congress from placing bets on prediction markets Amid increasing scrutiny of potential insider trading, including… Allegations that those near the White House You may take unfair advantage of inside information.
It was Audio about banning stock trading For public employees while in office.
“The time to act is now, and that must include ethics reforms that prevent members of Congress, the president, and their spouses from taking advantage of their positions,” she said.
Her moral judgments It was also a point of contention As it relates to the development of a key piece of cryptocurrency legislation, the Clarity Act Market Structure Bill. in may, The senator said the bill would not pass Without an ethics clause extending to President Trump’s actions.
But when the bill advanced through a key vote in the Senate, A Convention on ethical barriers to public officials Not completed yet. However, the odds of the bill passing this year have increased It’s down to about 50-50 according to Galaxy researcherswho cited a lack of time, not content, to accomplish this.
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