Democratic senators propose banning the president from investing in or supporting cryptoassets

After abruptly withdrawing support for the Senate's first stablecoin regulation bill, Senate Democrats announced on Tuesday that they would introduce a new bill banning federal officials and their families from issuing digital assets, a move that would directly target stablecoins and memes currently held by Trump and his family.
Senator Sen. Jeff Merkley, Democrat of Oregon, who proposed the bill, said: "At this time, anyone who wishes to have a relationship with the president can personally profit from the president by purchasing cryptocurrencies that they own or control, which is an extremely corrupt practice that threatens our national security and erodes public trust in government. We must end this corruption immediately."