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U.S. Senator Proposes Amendment: Aims to Prohibit Officials from Profiting through Crypto Assets Promotion
Gate News bot message, according to a July 1 report by Fox Business News, Oregon Democratic Senator Jeff Merkley proposed an amendment to the "Big and Beautiful Act" ( OBBB ). The amendment aims to prohibit elected officials from profiting from the promotion of crypto assets tokens in which they have a financial interest.
However, this proposal was opposed by Wyoming Republican Senator Lummis. Lummis believes that the amendment would severely impact the United States' innovation capacity and competitiveness, while also undermining the U.S. government's effective understanding and regulatory capacity regarding digital assets.