Trump rewards his same holders around a private dinner. Immediate reaction: Adam Schiff, Democratic senator, draws a law to supervise the use of the crypto by political leaders. A confrontation that mixes digital active ingredients, conflicts of interest and electoral calculations.
In short
- Adam Schiff offers the Coin Act to prohibit politicians from exploiting cryptocurrencies before, during and after their mandate.
- The law aims at Donald Trump, accused of having taken advantage of the crypto family platform World Liberty Financial.
- The project comes after a private dinner organized by Trump to reward the main holders of its same.
A law to cut the crypto current at the source
Adam Schiff did not digest the show. While Donald Trump multiplies the signs of friendship towards the Crypto community, the Senator of California is sounding the alarm in the face of the controversial enthusiasm aroused by a private dinner which divided investors and observers. According to him, the former president uses digital assets as a personal enrichment lever. He therefore responds with a law: the corner Act (Curbing Officials' Income and Nondisclosure).
Objective: to prevent presidents, vice-presidents and senior officials from creating, promoting or investing in cryptos, nft or stablecoins during their mandate and up to two years later. The message is clear: decentralized finance should not become a refuge for conflicts of institutional interests.
This project aims directly Trump, who would have affected more than $ 57 million via World Liberty Financial, crypto platform supported by his own family. Schiff sees it as a manifest abuse of power for private purposes. He is not talking about technology, but political morality.
Samecoins, stablecoins, and dollars from the gulf
The detail that ignited criticism? The launch of the stablecoin USD1 by World Liberty Financial. Shortly after, an Abu Dhabi company announced that he wanted to use it to settle a massive investment of 2 billion in Binance. The operation seems legal, but arouses a scent of disguised economic diplomacy.
Meanwhile, the Trump family has reduced their participation in WLF by 75 % to 40 %. A partial outing that reportedly reported several million dollars. According to an independent report, the president's digital assets would represent nearly 3 billion, or 40 % of his personal heritage. It's more than a detail: it is An alert signal for Schiffwhich sees it as a silent takeover of the public debate by private financial interests.
This mixture of political influence and monetary innovation worries as much as it fascinates. The crypto becomes a personal soft power tool, difficult to frame by laws designed for another century.
From the Senate to the Urns, the crypto as a fracture line
Adam Schiff is not alone in wanting to supervise the wave. In the House, Maxine Waters proposed the Trump in Crypto Act, a voluntarily provocative text intended to block the political use of the same by the former president. The calendar is not trivial: this project fell the same day that Trump received its main investors in tokens.
But parliamentary reality complicates everything. Democrats are in the minority, and even if the two texts passed, a presidential veto would remain likely. It would then take a super-majority that no one seems to be able to bring together today.
The real issue is played out elsewhere: in opinion. These legislative proposalseven dedicated to failure, impose a new debate. Crypto is now a tool of influence, a countryside product, sometimes even a substitute for traditional regulation.
With this bill, Schiff not only seeks to regulate. He tries to draw a red line between political power and Crypto finance. Whether this border is accepted or not, one thing is certain: blockchain is no longer just a technology. It is an electoral issue, a narrative weapon, a disputed territory.
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