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Democrats push back against Trump's growing crypto empire

Senator Jeff Merkley plans to introduce a bill that would bar the president, members of Congress, and their relatives from endorsing or sponsoring cryptocurrencies in an effort to reduce the risk of corruption.
This proposal follows divisions among Congressional Democrats between those wanting a regulatory framework and others concerned about risks and Trump’s crypto interests.
Trump launched memecoins $TRUMP and $MELANIA in January, which have since lost over 85% and nearly 98% of their value respectively, amid persistent ethical concerns.
The Democratic procedural vote on a stablecoin bill failed 49-48 due to demands for stronger anti-money laundering and accountability measures that could prevent Trump’s enrichment.
The vote setback delays establishing a federal stablecoin framework and reflects growing scrutiny over political crypto ties and potential misuse of the system.

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