In the USA, it has been proposed to prohibit government officials from promoting cryptocurrencies.

20 senators from the Democratic Party of the USA have introduced a bill prohibiting the president, vice president, members of Congress, and their families from issuing or promoting cryptocurrencies.

The initiative "Law on Ending Crypto-Corruption - 2025" will also affect employees of the executive branch, including Elon Musk, who is the head of the Department of State Efficiency (DOGE).

The document became a response to the disputes surrounding the regulation of stablecoins. Some Democrats refused to support the GENIUS Act, accusing Republicans of ignoring anti-money laundering measures.

The aim of the innovation is to prevent conflicts of interest. For example, US President Donald Trump previously issued the meme coin TRUMP and then offered a VIP meeting at the White House to its major holders.

The law introduces fines and criminal liability for violators, including a ban on commercial activity for one year after leaving public office.

At the same time, Trump's status as the "chief crypto advocate" at World Liberty Financial (WLF), linked to his family, remains in question. Democrats have also expressed concern over Binance's $2 billion deal using the stablecoin USD1, issued by WLF.

"It is more critical now to stop the president who is selling his own currency than to regulate the cryptocurrency market as a whole," said Senator Elissa Slotkin.

According to her, the law "removes the crocodile that is already in the boat"

Recall that in March, WSJ and Bloomberg reported on the plans of the Trumps and WLF to acquire a stake in the American business of Binance.

The information was denied by both the co-founder of the bitcoin exchange, Changpeng Zhao, and representatives affiliated with the president's family.