A new legislative proposal shakes up the American political sphere: preventing public figures from enriching themselves thanks to digital assets. In sight, political figures likely to monetize their image through the same or crypto projects.
Supervise the use of cryptos by public figures
- Blocking the promotion of personal tokens: the text formally prohibits elected officials, presidents, vice-presidents and other senior officials, as well as to their families, to create or promote cryptocurrencies. This prohibition aims to prevent any opportunistic use of their influence for the benefit of digital projects.
- Financial and criminal sanctions in the event of a breach: the proposal provides for high fines, the return of the profits generated illegally, and prison terms in the event of an offense. The objective is to dissuade any attempt at personal exploitation of the Crypto markets by the political elites.
Political ethics at the center of the debate
- Questioning questionable practices: some elected officials or close to power have recently been associated with blockchain -based initiatives. Whether it is more structured, the question of the use of notoriety for lucrative purposes raises questions.
- Concerns about the image of institutions: the border between political commitment and personal interests becomes vague when officials promote tokens who value them themselves. This potential drift could harm the credibility of public institutions.
Opportunities and threats
Opportunities :
- Strengthening political integrity in digital space.
- Clear legal framework to supervise the links between power and crypto-active.
Threats:
- Reluctance of certain elected officials to vote a law that could limit their personal activities.
- Creative diversions of rules via intermediaries or opaque montages.
Conclusion
This bill is part of an increasing desire for moralizing digital uses in the public sphere. By establishing safeguards against blockchain’s political exploitation, legislators seek to protect the general interest while affirming that innovation should not be done to the detriment of ethics. The debate that is announced could redefine the contours of political influence in the era of digital assets.
