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Klaas Knot Slams Trump Crypto Ties as Conflict of Interest
As the head of the Dutch Central Bank and the Financial Stability Board, Klaas Knot has spoken out against President Donald Trump’s growing involvement in cryptocurrency, labeling it a blatant conflict of interest.
Trump’s sudden change of heart regarding crypto, reversing his earlier skepticism, has raised eyebrows. His family’s direct investment in digital assets has sparked fresh concerns about the blurring of lines between public duty and private interests.
Knot emphasized that Europe does not permit public officials to profit from financial instruments they regulate, stating “A government should regulate, and public officials shouldn’t actively dispose of financial instruments they regulate.” He underscored the importance of maintaining transparency in governance, warning that any perceived or actual conflicts of interest can undermine public trust in crypto regulations.
The controversy has sparked a heated debate within Washington D.C., with many lawmakers calling for reforms to prevent such conflicts. A proposed bill, dubbed the COIN Act, aims to ban presidents and their families from sponsoring, issuing, or endorsing cryptocurrencies during and after their tenure.
Source: cryptotale.org
