Trump Memecoin Uproar Complicates Crypto-Backed Stablecoin Deal

The controversy over President Donald Trump’s crypto profits is threatening to derail a quick deal on bipartisan stablecoin legislation backed by both the crypto industry and the White House.

Elizabeth Warren, the top Democrat on the Senate Banking Committee, is leading the effort to use the stablecoin bill to bar a sitting US president from profiting off crypto ventures, which have already earned Trump and his family millions.

President Donald Trump

Photographer: Samuel Corum/Sipa/Bloomberg

Democrats in talks with Republicans have pushed to include legislation barring the president from profiting off of his memecoin and other cryptocurrencies, said a Senate Democratic aide familiar with ...