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US President Donald Trump deflected questions about divesting from his family's cryptocurrency ventures during a White House press briefing on June 27. When pressed about potential conflicts of interest affecting crucial digital asset legislation, Trump emphasized America's need to maintain dominance in the crypto sector rather than addressing the divestment request directly.
Democratic lawmakers have threatened to withhold support for cryptocurrency regulations unless potential conflicts involving the Trump family's crypto businesses are resolved. This political standoff comes as Congress considers the GENIUS Stablecoin bill, which passed the Senate on June 17 with a 68-30 vote but faces growing opposition over ethics concerns.
"We've created a powerful industry that's more important than any investments," Trump stated, framing the issue as a matter of national competitiveness against China. However, critics argue this position ignores the 【$28 million】 in crypto assets reportedly held by Trump-affiliated entities, creating what they call an unacceptable conflict for a sitting president.
California Senator Adam Schiff introduced the COIN Act on June 23, which would prohibit presidential involvement in digital asset ventures. ——This marks the first legislative attempt to address crypto-related conflicts in the executive branch——. The proposal follows Trump's recent launch of a stablecoin and his family's growing crypto portfolio.
Analysts suggest the standoff could delay comprehensive crypto regulations by 【12-18 months】. With bipartisan support for digital asset frameworks growing since 2024, the current impasse represents an unexpected obstacle in what had been progressing as rare common ground between political parties.
Trump's comments about China potentially dominating the crypto space reflect growing concerns about technological competition. However, foreign policy experts note that without clear US regulatory leadership, other nations may indeed seize the opportunity to shape global digital asset standards.