During a recent press conference at the White House, President Donald Trump did not provide a direct answer regarding the possibility of divesting from his crypto investments, stressing the importance of maintaining the US's position in the cryptocurrency market.
President Claims US Dominance in Crypto Industry
When asked by a reporter whether many Democrats might not support crypto legislation due to his investments, Trump stated: "I became a fan of crypto, and to me, it's an industry. If we did not have it, China would, or somebody else would."
Lawmakers Express Concerns Over Conflicts of Interest
Concerns among lawmakers about Trump's crypto ties and potential conflicts of interest threaten to delay efforts to establish comprehensive regulations for the crypto industry, a key political goal since 2024.
Democrats Introduce Initiatives to Limit Presidential Involvement in Crypto
The Senate recently passed the GENIUS Stablecoin bill. Senator Adam Schiff introduced the COIN Act, which would prohibit the president, his family, and executive officials from issuing or endorsing digital assets. Schiff noted that "Donald Trump and other senior administration officials have made a fortune off crypto schemes."
The issue of cryptocurrencies and Trump's involvement in the sector has become a focal point in discussions about potential conflicts of interest, which in turn jeopardizes the passage of new crypto legislation.
