A U.S. senator has proposed banning elected officials and the president from issuing or sponsoring personal tokens.

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ME News message: On July 4 (UTC+8), U.S. Senator Kirsten Gillibrand proposed banning elected officials and the president from issuing or sponsoring their own tokens. In a statement, Kirsten Gillibrand said that Congress should support measures to prohibit elected officials and their spouses from "issuing or sponsoring their own digital assets." The New York lawmaker said the proposed restrictions would cover all U.S. presidents and their spouses, but did not explicitly mention whether the provision would extend to the vice president or their family members. Kirsten Gillibrand is one of the senators behind the negotiations on the Senate Digital Asset Market Transparency Act (CLARITY Act). The bill has been repeatedly delayed due to concerns including ethics, tokenization, and stablecoin rewards. Although she expects the Senate to vote on the bill before the routine working days in August, she added that if ethical issues are not addressed, nobody would vote for the bill, noting that elected officials could "use their insider connections to profit from these industries." (Source: PANews)
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