US Democratic Senator Proposes Ban on Officials Profiting from Promoting Cryptocurrencies

According to ChainCatcher, Fox Business News reported that U.S. Senator Jeff Merkley, a Democrat from Oregon, has proposed an amendment to the "Outsized and Beautiful Bill" (OBBB) that would prohibit elected officials from promoting or profiting from cryptocurrency tokens in which they have a financial interest.

U.S. Senator Lummis, a Republican from Wyoming, opposes the amendment, stating that it would severely undermine American innovation and competitiveness, and hinder the government's ability to effectively understand and regulate digital assets.