In short
- Sen. Kirsten Gillibrand is resuming calls to ban politicians and their wives from issuing or promoting crypto assets, including meme currencies.
- President Donald Trump revealed this week that he earned more than $1.2 billion from crypto last year, including $635 million from his Solana meme fund.
- The push is part of a broader campaign of ethics by Gillibrand, who has also worked to ban conference trading on stock and futures markets, citing concerns about insider trading.
Following this week’s revelation that President Donald Trump raised more than $1.2 billion from his crypto activities last year, New York Senator Kirsten Gillibrand also wants to ban the issuance and promotion of digital assets by politicians and their wives.
The ban extends to meme money, which Trump and his wife, First Lady Melania Trump, both benefited from last year, with the president reportedly earning more than $635 million from his money. Solana-based meme coin only.
“This is a public policy that deserves a lot of support — government officials and spouses should not be funding memes,” Gillibrand said. words.
“We cannot allow ourselves to destroy opportunities to strengthen consumer protections, reduce illegal spending, and expand economic opportunities for millions of Americans in the way our economy has failed,” he added.
Gillibrand, who is one of the most pro-crypto Democratic senators, has been leading the charge on social security in Congress. Earlier this year, he led a two-pronged effort to save it members of Congress by placing wagers on the prediction markets on growth development potential sales within, including claims that those close to the White House they may be benefiting unfairly from insiders.
He has also been a statement regarding the prohibition of stock trading to public officials while in office.
“The time for action is now – and that must include changing the policy that prohibits members of Congress, the president, and their wives from making financial returns in office,” he said.
Moral rules it also became a point of contention as it relates to the advancement of the main piece of crypto legislation, the Clarity Act on market structure. In May, a The senator said the bill would not pass without a traditional law that extends to President Trump’s actions.
But when the bill passed the Senate’s general vote, a agreement on security measures for public authorities it was not finished yet. However, chances are that the bill will pass this year it was down to 50-50 according to Galaxy researcherswho said lack of time, not satisfaction, to do it.
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