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Even crypto-friendly Congressman Ro Khanna (D-PA) joined in, writing “Elected officials must be barred from having meme coins by law.”7 Senator Elizabeth Warren (D-MA) and Representative Jake Auchincloss (D-MA) have written an Angry Letter asking multiple government agencies how they intend to address “the unprecedented concerns posed by the launch of the $Trump and $Melania meme coins, including the threats from consumer ripoffs, corruption and foreign influence, and President Trump’s conflicts of interest.”8 They note that “As President, Mr. Trump is responsible for nominating the leaders that will enforce our laws against crypto companies ... This creates an unavoidable conflict of interest, as he will be in a position to both benefit directly from the sale of the tokens while also setting the policy on how these markets are regulated.” While a letter of this sort is no surprise from staunchly anti-crypto Warren, Auchincloss has been a longtime vocal supporter of crypto.

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Even crypto-friendly Congressman Ro Khanna (D-PA) joined in, writing “Elected officials must be barred from having meme coins by law.”7 Senator Elizabeth Warren (D-MA) and Representative Jake Auchincloss (D-MA) have written an Angry Letter asking multiple government agencies how they intend to address “the unprecedented concerns posed by the launch of the $Trump and $Melania meme coins, including the threats from consumer ripoffs, corruption and foreign influence, and President Trump’s conflicts of interest.”8 They note that “As President, Mr. Trump is responsible for nominating the leaders that will enforce our laws against crypto companies ... This creates an unavoidable conflict of interest, as he will be in a position to both benefit directly from the sale of the tokens while also setting the policy on how these markets are regulated.” While a letter of this sort is no surprise from staunchly anti-crypto Warren, Auchincloss has been a longtime vocal supporter of crypto.
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Molly White (molly0xfff@hachyderm.io)'s status on Saturday, 25-Jan-2025 02:12:07 JST Molly White
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Trump’s memecoin did not exactly receive a warm welcome from much of the crypto world, who were horrified that their crypto president would tarnish the industry’s sterling reputation by doing a blatant cashgrab.
#crypto #cryptocurrency #USpolitics #USpol

In conversation about 4 months ago from hachyderm.io permalink