Trump’s Family Involvement in Crypto Hinders Bipartisan Legislation Support
At the SALT conference in Jackson Hole, Rep. Angie Craig (D-Minn.) highlighted challenges in U.S. digital asset regulation due to President Donald Trump's involvement in the sector. Key points include:
- Trump and his family have established businesses in digital assets since January.
- Trump has launched meme coins and Truth Social has sought exchange-traded funds.
- Eric Trump co-founded American Bitcoin, a mining firm owned by Hut 8.
- The Digital Asset Market Clarity Act passed the House with bipartisan support, but Senate versions are still under development.
- Craig indicated that Trump's family's participation poses a conflict of interest that hinders Democratic support for regulatory legislation.
- She suggested stronger language is necessary to address potential conflicts of interest to gain broader bipartisan backing.
Despite concerns, Craig voted to advance the Clarity Act without additional conflict-of-interest provisions.