U.S. Senator proposes ban on elected officials and president issuing or sponsoring personal tokens

CoinFeed reported on July 4, according to Cointelegraph, U.S. Senator Kirsten Gillibrand proposed banning elected officials and the president from issuing or sponsoring their own tokens. Kirsten Gillibrand said in a statement that Congress should support a measure to prohibit elected officials and their spouses from 'issuing or sponsoring their own digital assets.' The New York lawmaker said the proposed restriction would cover all U.S. presidents and their spouses, but did not specify whether the provision would extend to vice presidents or their family members. Kirsten Gillibrand is one of the lawmakers behind the Senate's Digital Asset Market Transparency Act (CLARITY Act) negotiations. The bill has been repeatedly delayed due to concerns over ethics, tokenization, and stablecoin rewards.