A new poll shows most Americans think President Trump's family crypto investments cross ethical lines. Lawmakers are calling for investigations.
Image source: CoinTelegraph
Most Americans are uneasy about President Trump's family making money from cryptocurrency, according to a new poll. The concern is that a sitting president profiting from crypto (digital money like Bitcoin that isn't controlled by any government or bank) could create conflicts of interest.
How much money are we talking about? A June report from the US Office of Government Ethics (a government watchdog that checks if officials follow honesty rules) revealed some eye-opening numbers:
Lawmakers aren't convinced. Several politicians have called for investigations into the Trump family's crypto business. In July, Senate Minority Leader Chuck Schumer introduced a bill to create a new agency focused on fighting corruption at the federal level, specifically pointing to the president's "extremely lucrative" crypto ventures.
Meanwhile, Trump is also pushing new crypto rules. At a White House press conference on Wednesday, attended by top business executives, he urged the Senate to pass the Digital Asset Market Clarity Act. This bill would set clear rules for which government agencies oversee crypto. It faces a key vote (called a cloture vote, which decides whether to move forward with debate) on September 15.
The bottom line: While Trump's family is earning huge sums from crypto and helping shape crypto laws, many Americans and lawmakers see this mix of personal profit and public power as a red flag. The debate over ethics and clearer regulation is far from over.
This is an AI-generated summary. Read the original article at: https://cointelegraph.com/news/americans-donald-trump-crypto-investments-inappropriate-poll?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound