Groups Demand Senate Immediately End Trump’s Crypto Conflicts of Interest
Washington, D.C. — A new letter led by Public Citizen and signed by allied groups and individuals dedicated to the fight for an honest government has urged the U.S. Senate to take on President Trump’s crypto conflicts of interest. The letter specifically calls on the Senate to bar the President, along with all elected officials and their families, from “from owning, buying or otherwise trafficking in” stablecoin in order to ensure that policy “won’t be fashioned by those profiting from the shape of the legislation.” The letter was issued as Senate Majority Leader John Thune plans a cloture vote on a stablecoin bill Thursday (today).
As the letter notes, the Trump family recently announced a deal with a foreign government firm to use $2 billion worth of a Trump stablecoin, which will financially benefit the Trump family directly. Public Citizen’s financial policy advocate Bartlett Naylor noted: “No president should exploit his office for personal profit. No president should accept any money, let alone billions, from foreign governments. No president should shape and sign legislation that supercharges these profits and foreign emoluments. And no senator should aid and abet what may be the greatest presidential corruption in the history of our country.”
Signatories include former White House Ethics Czar Norman Eisen, Profs. Richard Painter, James Thurber, the Project on Government Oversight and Accountable.US.