Sen.Tim Scott and President Donald Trump in the Oval Office
Republican patsy Sen. Tim Scott (R-SC) appeared on Fox Business to push the Digital Market Asset Clarity Act—a huge crypto deregulation bill that threatens to legally enshrine the weak oversight and poor consumer protections of cryptocurrency markets.
“Let’s remind ourselves President Trump has done something no other president in the history of our country said ‘yes’ to,” Scott said, “which is complying to the ethics strategy and standard for all elected officials. We’ve never had a president ever say ‘yes’ to that issue, that question, so it’s good news.”
The “ethics strategy and standard for all elected officials” Scott is referring to amounts to a paper-thin bit of oversight framework that Republicans have cooked up, placing enforcement of cryptocurrency conflicts-of-interest rules under the control of the president himself. It means that oversight would ultimately fall to the same Department of Justice that Trump has weaponized to target his political enemies while extending clemency and paying off political allies doing his bidding.
There are very few parts of Trump’s agenda that are not soaked in corruption. Cryptocurrency, however, has become one of the Trump family’s most lucrative ventures, generating billions of hard-to-trace dollars since jumping into the racket. The Clarity Act is set to clear the way for more money to flow into their biggest grift yet.
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