A U.S. lawmaker has moved to reintroduce a bill aimed at addressing concerns over former President Donald Trump’s alleged connections to the cryptocurrency industry, as critics intensify pushback against what they say could be potential conflicts of interest.
The legislation, first proposed last year, seeks to impose stricter disclosure requirements on political figures and their associates regarding crypto-related investments and partnerships. Its reintroduction comes as Trump continues to engage with crypto firms—including attending industry events and promoting digital assets on social media—prompting calls for greater transparency.
Critics argue that Trump’s ties to crypto entities, including endorsements and financial arrangements, raise questions about whether his policies could favor the industry at the expense of public interest. They point to recent controversies where some crypto firms have faced regulatory scrutiny for alleged fraud or market manipulation.
“Transparency is non-negotiable when it comes to political figures and their financial relationships,” said the lawmaker behind the bill in a statement. “This legislation ensures voters know if elected officials have skin in the crypto game, so we can prevent undue influence on policy.”
Trump’s camp has dismissed the concerns, claiming the bill is a partisan move to hinder his political activities. The former president has positioned himself as a supporter of cryptocurrencies, calling them a “future of finance” while criticizing traditional banking systems.
The bill now awaits committee review, with its fate hinging on bipartisan support. If passed, it would require candidates and public officials to report all crypto holdings, transactions, and consulting roles within 30 days of acquisition.
Industry experts note the legislation reflects a broader national debate over crypto regulation, as lawmakers grapple with balancing innovation with consumer protection. The reintroduction amid Trump’s 2024 political activities adds a new layer to the ongoing conflict between crypto advocacy and regulatory oversight.
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