U.S. Senator Catherine Cortez Masto (D-Nev.) joined Senator Jeff Merkley (D-Ore.) and Senate Democratic Leader Chuck Schumer (D-N.Y.) in spearheading an effort to crack down on cryptocurrency-related corruption by elected officials at the highest levels of the federal government, including the presidency.
“There is no room in the American democratic system for the president to be personally enriching himself directly or indirectly from decisions he makes while in office,” said Senator Cortez Masto. The senator’s press release on the proposed legislation provided no evidence of the alleged corruption taking place.
The press release continues: “The End Crypto Corruption Act bans the President, Vice President, Senior Executive Branch Officials, Members of Congress, and their immediate families from financially benefiting from issuing, endorsing, or sponsoring crypto assets, such as meme coins and stablecoins.
“The full text of the legislation can be found here.
“Cortez Masto has continually pushed to end public corruption. She has supportedlegislation that would prevent lawmakers from trading stocks. Cortez Masto has long championed actions to crack down on dark money in politics. She has cosponsored legislation to require organizations spending money in federal elections to disclose their donors and help guard against hidden foreign influence in our democracy.”
