Senate Democrats are pushing for new legislation that aims to prevent cryptocurrency-related corruption among top US officials.
US Democratic senators led by Jeff Merkley (D-Ore.) and Senate Democratic leader Chuck Schumer (D-NY) introduced the End Crypto Corruption Act of 2025 to prevent the president, vice president, senior executive branch officials, members of Congress, individuals appointed by the Senate and their immediate family from making money from issuing, endorsing and sponsoring crypto assets, including memecoins and stablecoins.
“Any covered individual who knowingly violates section 13152(a) shall be subject to a civil monetary penalty equal to not more than 10% of the value of the financial interest that is the subject of the prohibited conduct, or the amount of financial gain, if any, that the covered individual benefitted from relating to the prohibited conduct, whichever is greater.”
The move comes amid concerns that a conflict of interest arises from President Donald Trump’s crypto ventures.
Merkley, who sponsored the bill, says that people who want to influence the president can enrich him by buying the crypto he owns or controls. The legislator says the setup is a corrupt scheme that endangers national security and erodes public trust in the government.
Schumer says they are taking action to prevent Trump from putting consumers and national security at risk.
“Donald Trump’s attempts at grift and corruption are well known and well documented. And right now, individuals can curry favor with this White House and make money for Trump by purchasing his digital assets…
Our democracy shouldn’t be for sale.”
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
