As President Donald Trump headed over to his Virginia golf course for a gala with the 250 top buyers of his $TRUMP “memecoin,” Democrats are trying to find ways to push back on the president’s incursions in the cryptocurrency market.
Sen. Chris Murphy said Thursday that Democrats will demand a vote on an amendment prohibiting the president and other officials from profiting off stablecoins as part of the GENIUS Act, a cryptocurrency bill that would regulate stablecoins.
“The only power you have in a minority, on many days, is to demand amendment votes to move to a final vote on legislation,” Murphy said at a press conference with Rep. Sam Liccardo and Sens. Richard Blumenthal and Elizabeth Warren. The amendment is unlikely to become law. But it could put Republicans on the record over the president’s memecoin gambit, Murphy said.