According to the bill, the above persons are prohibited from producing, sponsoring and promoting memcoirs, non -replaced tokens (NFT), stablecoins and other cryptocurrencies. Investments in such assets should also be prohibited, the author of the document suggests. The ban should begin to operate 180 days before the likely entry of the person’s office and within two years after his departure from the post.
The bill obliges officials to make any sale of digital assets in the amount of more than $ 1000. For violators, even if this is the current president, should threaten an administrative fine equal to the amount of profit, as well as imprisonment for up to five years.
Schiff said that his proposal was called upon to prevent the enrichment of politicians in cryptocurrencies and prevent a conflict of interests from persons holding leading positions. The law is needed to restore the confidence of the company to selected officials who are required to serve the interests of people, and not focus on receiving personal financial benefits.
Schiff criticized Donald Trump, who launched the Trump and Melania memcoirs. His family expands its presence in the cryptocurrency market, and the current US administration seeks to create favorable conditions for the crypto industry, the congressman recalled. According to the democrat, it is necessary to more carefully monitor the president’s financial transactions and not give him, like any other policy, to make a profit from cryptocurrencies.
Previously, the Senthia Lummis, Senator-Republican from the state of Wyming called for the sake of combating corruption to develop standards for the use of memcoirs by officials.
Source: Bits
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