Democratic Senator: Plans to prohibit officials from profiting through the promotion of cryptocurrencies

ChainCatcher news, according to Fox Business News, U.S. Senator Jeff Merkley from Oregon has proposed an amendment to the "Oversight of Big and Beautiful Bill" (OBBB) that prohibits elected officials from promoting or profiting from cryptocurrency tokens in which they have a financial interest.

U.S. Senator Lummis from Wyoming opposed this amendment, stating that it would severely harm U.S. innovation and competitiveness, and undermine the government's ability to effectively understand and regulate digital assets.