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President Donald Trump is helping draft cryptocurrency regulations while financial disclosures show he and his family have profited significantly from the industry.
The disclosures indicate the president made nearly $1.5 billion from cryptocurrency last year, including $635 million from his Trump Meme Coin, which has dropped 80% in value over the year.
The president has repeatedly stated he is not personally involved in his family’s businesses, but the connection has raised concerns about potential conflicts of interest.
Former <a href="https://xpertsstudio.com/bitcoin-posts-biggest-daily-gain-since-march-ahead-of-white-house-crypto-meeting/" title="Bitcoin posts biggest daily gain since March ahead of White House crypto meeting”>White House ethics lawyer Richard Painter said the president’s actions are not illegal.
“So technically the president of the United States can do this, hold a substantial investment in an industry while supervising the regulators of that industry, even though it’s a serious financial conflict of interest for the president to do so,” Painter said.
A of Americans believe it is inappropriate for the president and his family to profit from cryptocurrency while he is in office, including three out of every ten Republicans
Source: www.wxii12.com