U.S. Senator Bob Menendez, known for criticizing Bitcoin as a "criminal's choice," has been convicted of accepting bribes. Sentencing is scheduled for October 29.
U.S. Senator Bob Menendez from New Jersey, a vocal critic of Bitcoin, was convicted on Tuesday for accepting bribes, including gold bars and luxury cars, in exchange for political favors. The crypto community highlighted the irony of Menendez's past claims that Bitcoin is "an ideal choice for criminals."
Key Points:
Conviction Details:
Senator Bob Menendez was found guilty of accepting bribes as a foreign agent.
Bribes included gold bars and a luxury car.
Crypto Community Reaction:
Menendez had previously called Bitcoin "an ideal choice for criminals."
His conviction sparked irony and criticism from the crypto community.
Legislative History:
Menendez co-sponsored the "Accountability for Cryptocurrency in El Salvador (ACES) Act."
The bill aimed to mitigate risks from El Salvador's Bitcoin adoption.
Public Reactions:
Stacy Herbert from El Salvador's National Bitcoin Office criticized Menendez.
Herbert compared Menendez’s actions to President Bukele's transparency efforts.
Official Statements:
Menendez proclaimed his patriotism and denied being a foreign agent.
U.S. Attorney Damian Williams condemned Menendez's actions as "politics for profit."
Political Impact:
Menendez faces calls to resign from senior colleagues, including Senate Majority Leader Chuck Schumer.
His sentencing is scheduled for October 29, with potential for decades in prison.
Senator Bob Menendez's conviction for bribery has brought to light the irony of his previous criticisms of Bitcoin. As he faces a potentially long prison sentence, the crypto community and political peers alike reflect on the implications of his actions.
Source: Coindesk
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