Florida minimum wage: Lawmakers move forward with bill to lower pay for trainees
Florida lawmakers are advancing bills that would allow employers to pay certain workers in training below the minimum wage for up to 12 months.
Supporters argue it will help small businesses attract skilled workers, while opponents warn it could lead to exploitation.
The bills are still under review in both the House and Senate.
TALLAHASSEE, Fla. - Florida lawmakers are advancing bills that would allow employers to pay certain workers in training below the minimum wage for up to 12 months.
What we know
On Tuesday, both the Florida House and Senate advanced bills that would exempt certain workers in on-the-job training from the state's voter-approved minimum wage law.
he House Careers & Workforce Subcommittee voted 12-4 along party lines to support HB 541, while the Senate Governmental Oversight and Accountability Committee approved a similar measure, SB 676. The bills would allow employers to pay workers involved in work-study, internships, or other training programs below the minimum wage, but only for up to 12 months.
What we don't know
The specifics of how the exemption would be implemented in various industries remain unclear. It's also uncertain how widespread the program could become if the bills pass, especially if business owners were to take advantage of the exemption by categorizing many employees as "interns" or "work-study" participants.
The overall impact on workers' income and the number of workers who would voluntarily accept sub-minimum wage pay for training is also uncertain.
The backstory
The proposal is a response to concerns that the state's current minimum wage law, which gradually increases to $15 an hour by 2026, makes it difficult for employers to provide adequate job training. Under current law, certain exemptions already exist, such as allowing employers to pay sub-minimum wages to workers under age 20 during their first 90 days of employment and students in vocational programs. This new proposal seeks to extend these exceptions for employees involved in work-based learning opportunities, such as internships and apprenticeships.
Big picture view
The proposal reflects ongoing tensions between workers' rights and the needs of businesses in a post-pandemic economy. Supporters argue that the ability to pay below the minimum wage would help small businesses attract and train skilled workers, while opponents fear it could lead to widespread exploitation of workers. The larger debate centers on how to balance fair compensation with opportunities for job training, especially for younger and entry-level workers in a competitive labor market.
What they're saying
House bill sponsor Ryan Chamberlin, R-Belleview, argued, "The answer to why people would choose this is if they see value outside of the pay. They see an opportunity to gain some experience that they otherwise would not be able to gain."
Florida AFL-CIO lobbyist Rich Templin voiced concerns: "You literally would be allowing business owners to make all of their employees an intern or a work-study... and anybody that wants to work there would have to sign this (minimum wage) waiver."
Rep. Mike Caruso, R-Delray Beach, defended the bill. "It's not open to the McDonald's of the world, as I see it... And we still have the baseline of the federal minimum wage. So they won't be working for nothing."
Tim Nungesser, legislative director for the National Federation of Independent Business in Florida, explained, "States are looking for ways to get more skilled workers, and one of the ways that we can do that is with this voluntary program."
STAY CONNECTED WITH FOX 35 ORLANDO:
Download the FOX Local app for breaking news alerts, the latest news headlines
Download the FOX 35 Storm Team Weather app for weather alerts & radar
Sign up for FOX 35's daily newsletter for the latest morning headlines
FOX Local:Stream FOX 35 newscasts, FOX 35 News+, Central Florida Eats on your smart TV
The Source
This story was written based on information shared by The News Service of Florida.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Politico
28 minutes ago
- Politico
Why Jeffries' redistricting idea is so unlikely in NJ
Good Wednesday morning! Last week, CNN reported that House Minority Leader Hakeem Jeffries was looking to several Democratic states, including New Jersey, for potential mid-decade redistricting to counter the move to redraw the map in Texas to further favor Republicans. But by the time the report surfaced, it was probably already too late in New Jersey. This would have been difficult no matter what. New Jersey's Constitution mandates that congressional redistricting takes place after the Census conducted at the beginning of each decade. To change that, you'd have to change the Constitution. To guarantee a favorable map for Democrats, you'd also have to change the constitutionally assigned system from a redistricting commission with equal party representation and a tiebreaker to one that favors Democrats. It is, of course, possible to change the state Constitution. Democrats have slightly more than the three-fifths majorities they need in both houses to get a constitutional amendment on the ballot this November. But even if they were to get all their members on board with the plan — far from a given — I still doubt they'd be able to pull it off. The state Constitution requires constitutional amendments be published in newspapers in each county 'not less than three months prior to submission to the people.' Notwithstanding the dearth of newspapers, that makes the deadline Aug. 4, according to the Division of Elections, which I trust more than myself to do the math. But even if Democratic leaders got virtually all their members to come back from vacation and support an amendment before Aug. 4, they still likely wouldn't be able to get it on the ballot in time to affect the 2026 midterms. The constitution requires lawmaker to wait at least 20 days following an amendment's introduction, then hold a public hearing, before they can vote on it. I'm no lawyer or constitutional scholar, so I called law professor Ronald Chen, who's also worked on congressional and state redistricting commissions. And he agreed there's no way to do it in time for the Nov. 4 general election. Chen noted one possible way to do it: If the Legislature passes a law to delay the general election. And Democrats did delay the primary a week so as not to conflict with the Jewish holiday of Shavuot. But this would require an election delay of at least three weeks. And given that Democrats already have a friendly congressional map with very few options to gain more than the nine seats they hold, it seems like an extraordinarily unlikely gambit. But perhaps there's a way for Gov. Phil Murphy fire the First Assistant Constitution and replace it with an Acting Constitution. FEEDBACK? Reach me at mfriedman@ SHOW ME THE WAY: Acting Gov. Way has no public schedule QUOTE OF THE DAY: 'This is smart. As things stand, McGreevey is on track to be the next mayor. Unless the other candidates show some vision or courage, which they haven't, he'll keep gaining ground. The rest are stuck recycling tired lines: 'developers bad,' 'everyone's corrupt,' 'Jersey City is a mess.' with no vision beyond those talking points. Their cautiousness on every issue including MLK/Bergen and Baldwin/Summit speaks volumes about how they would lead' — outgoing Jersey City Mayor Steve Fulop on candidate Jim McGreevey's transit plans. (Fulop last year expressed doubts about McGreevey's chances.) HAPPY BIRTHDAY — Kevin McCabe, Elissa Schragger, Christian Fuscarino, Felicia Hopson, Robert Basmadjian WHAT TRENTON MADE J-J-J JIM 'N DALE RESCUE CAMPAIGNERS — 'Do NJ lt. governor candidates matter? Do Gannon, Caldwell help their tickets?' by The Record's Charles Stile: 'Last week's rollout of lieutenant governor candidates demonstrated how the volatile debate — and concerns — over diversity shaped their selections.. Republican nominee Jack Ciattarelli's selection of Jim Gannon, the popular Morris County sheriff, was widely seen as a tactical move to siphon away some suburban support from his rival, the Democratic nominee, U.S. Rep. Mikie Sherrill, who has represented a large swath of Morris since her blue-wave election in 2018. Yet by choosing a White county sheriff and ex-Boonton cop, Ciattarelli is also rejecting the familiar expectation that the governor's lieutenant must be a diversity pick. … Every nominee since the first lieutenant governor campaign in 2009 has followed the diversity script … Yet Ciattarelli is ignoring precedent — despite candidly lamenting in a postmortem symposium that his 2021 campaign was 'too White.' … Sherrill, meanwhile, had little choice but to follow the Democratic Party's diversity playbook by choosing Dale Caldwell, a pillar of the party Democratic establishment and the first African American president of Centenary College in Hackettstown.' SCHOOL FUNDING — Coughlin proposal is latest to address school funding woes, by POLITICO's Matt Friedman: With cuts in state education aid hitting some suburban school districts hard and driving up property taxes, Assembly Speaker Craig Coughlin is seeking to alter New Jersey's school funding formula and give the Legislature more power over it. Coughlin and Assemblymember Sterley Stanley, a fellow Democrat from Middlesex County, last week introduced legislation, NJ A5966 (24R), that would make significant changes to how education aid is calculated, and require the Legislature to affirmatively approve of the governor's office's determination of per-pupil funding amounts. 'This bill attempts to provide both school districts and the public with more clarity, predictability and time as to how much School Aid their districts can expect for each succeeding school year,' Coughlin said in a statement. The bill comes as education aid, always a tense political issue, threatens to rile up voters ahead of the November election, when all 80 Assembly seats are up. And it follows efforts from the Murphy administration and Senate to address the recent controversies. CIATTARELLI FINDS A DISAGREEMENT WITH TRUMP — 'Ciattarelli opposes ICE plan to house detainees at N.J. base, but blames Dems for 'crisis',' by NJ Advance Media's Steve Strunsky: 'Republican gubernatorial candidate Jack Ciattarelli opposes a plan to use part of a sprawling U.S. military base in Burlington County to temporarily house immigration detainees, though he blames Democrats for the situation, the candidate and his campaign said this week. Ciattarelli's campaign issued a statement by the GOP gubernatorial nominee and former state senator from Somerset County on Monday night accusing his opponent and other Democrats of creating a 'crisis' that forced immigration officials to obtain permission from the Pentagon to house detainees in tents at Joint Base McGuire-Dix-Lakehurst. … On Tuesday, Ciattarelli campaign manager Eric Arpert clarified that his candidate opposes housing detainees at the joint base, while reiterating his assertion that Democrats were to blame for the situation.' KEVIN TOMAFSKY — 'Ex-Gov. Christie aide sentenced to prison for possession of child sex abuse material,' by NJ Advance Media's Victoria Gladstoine: 'A onetime aide to former Gov. Chris Christie pleaded guilty on Monday to first-degree endangering the welfare of a child after police found images of child sexual abuse material on his personal devices, authorities said. Kevin Tomafsky, 43, of Washington Township, was arrested in 2022. … Tomafsky accepted a plea deal that will require him to serve 10 years in prison. He will have to serve five years before being eligible for parole, authorities said. … Tomafsky worked in the governor's office from 2010 to 2012.' —'Homelessness up again in New Jersey, as federal cuts loom' —'ELEC awards first gubernatorial debate to N.J. Globe, On New Jersey And Rider University' —'Lawmakers rejected phone tax to fund NJ's 988 crisis hotline' —'New Jersey gun law challenged in lawsuit seeking to end the suppressor ban' —'Vineland gun shop loses court decision to NJ AG. What this means for Butch's Gun World' TRUMP ERA FROM BEDMINSTER TO BEDLAM — Trump fired court-appointed Habba replacement, records show, by POLITICO's Ry Rivard and Kyle Cheney: President Donald Trump moved to fire the career federal prosecutor New Jersey judges picked to be acting U.S. Attorney for New Jersey, according to court records filed Tuesday. The Department of Justice revealed Trump's decision in an email filed with a federal judge in Pennsylvania, who is preparing to weigh in on an escalating fight between the Trump administration and the federal bench in New Jersey. The filing underscores Trump's direct involvement in a bid to keep his former personal attorney, Alina Habba, as New Jersey's top federal prosecutor, despite the expiration last week of her 120-day tenure as interim U.S. attorney and New Jersey judges selecting prosecutor Desiree Leigh Grace to serve in Habba's place. … Trump's workaround is now creating uncertainty across the federal criminal justice system in New Jersey. A defense attorney, Thomas Mirigliano, is trying to get 2024 drug and gun charges against his client thrown out by arguing the Trump administration's maneuvering was irregular and unconstitutional. … In a 29-page response made Tuesday at noon, the Department of Justice said Habba is legally the acting U.S. attorney and walked through each step of the workaround that it says allows Habba to continue serving. But the department made lengthy arguments meant to keep criminal cases from unraveling in the event a judge decides that Habba's authority is dubious.' —'Has Trump's naming of Alina Habba created a crisis in the federal courts?' THIRD CIRCUIT — Senate confirms Emil Bove to Third Circuit, as Dems fail to thwart Trump pick, by POLITICO's Hailey Fuchs: Emil Bove, President Donald Trump's former criminal defense attorney, has been confirmed to a lifetime seat on the Third Circuit Court of Appeals — the culmination of a tumultuous campaign from his detractors that ultimately fractured his support among the Senate GOP. The Senate voted 50-49 to confirm Bove, with Republican Sens. Susan Collins of Maine and Lisa Murkowski of Alaska defecting from the rest of their party to join all Democrats in opposing. Bove was plagued by reports of whistleblowers alleging that he recommended the administration ignore court orders that would disrupt Trump's aggressive immigration agenda. His nomination became a flashpoint battle for Democrats, who argued the current principal associate deputy attorney general had made clear he valued fealty to the president over the law and was therefore unfit for the federal bench. 'Look at his record: Emil Bove has shown time and time again his disrespect for the very office he seeks to hold,' said Sen. Cory Booker (D-N.J.), pointing to the allegations, during a recent speech on the Senate floor. TIRED: MASTRO. WIRED: MASTO — 'Booker feuds with fellow Senate Dems in surprise dispute over police bill package,' by New Jersey Globe's Joey Fox: 'What might have been the fairly routine passage of several police-related bills on the Senate floor this afternoon turned into a surprisingly bitter intra-Democratic argument, with Senator Cory Booker sparring with two of his fellow Democratic senators over how willing their party should be to work with Republicans and President Donald Trump. Senator Catherine Cortez Masto (D-Nevada) took to the floor to ask for unanimous consent to pass seven bills related to policing and public safety, all of which have a bipartisan list of co-sponsors and one of which even lists Booker himself as a co-sponsor. But Booker objected to five of the bills, accusing the Trump administration of shifting police grant funding away from states like New Jersey in retaliation for their Democratic-leaning politics and their hesitance to cooperate with the president on immigration enforcement. 'Why would we do something today that's playing into the president's politics, and that's going to hurt the officers in states like mine?' Booker said. 'I believe in these bills – I'm a co-sponsor on some – and that's why I'm standing here to fight to ensure police departments in New Jersey aren't excluded from accessing these vital funds.' Booker asked to pass an amendment ensuring that grant money is equally allocated; Cortez Masto objected, calling it a 'poison pill' to the package.'' —Booker: 'There's a lot of us in this caucus that want to fucking fight. And what's bothering me right now is we don't see enough fight in this caucus.' — 'Thousands of legal immigrants in NJ could be thrown off Medicaid' —'N.J. Reps. want details from Hegseth, Noem about immigration detention center plans at Joint Base McGuire-Dix-Lakehurst' LOCAL EDISON — '3 N.J. cops were charged with stealing. Not one will serve a day in prison,' by NJ Advance Media's Riley Yates: 'The charges against the Edison police officers were meant to send a message. Cops accused of falsifying off-duty work to add tens of thousands of dollars to their pay checks would face serious consequences, Middlesex County prosecutors announced in 2018. Theft charges. Racketeering allegations. Years of scandal inside the township's long embattled police department would finally come to an end in the kind of corruption case that puts police behind bars. Then the charges languished for seven years. Until last week, when authorities cut a deal with their three final defendants, concluding a costly prosecution that began with fanfare and ended with none of the three former cops spending a day in prison. Two of the accused officers — Gregory Makras and James Panagoulakos — saw their charges dismissed on July 23 in exchange for their resignations from the police force, where they haven't worked since they were charged. Another former officer, Sgt. Ioannis (John) Mpletsakis, pleaded guilty on the same day to a tax charge for failing to report income.' THE HOUSE UN-AMERICAN COMMUNITY CENTER AND POOL ACTIVITIES COMMITTEE — ''He is trying to divide us:' How a dispute over American flags turned this small N.J. town upside down,' by NJ Advance Media's Glenn Epps: 'More than a dozen residents in Belvidere say they have become the target of a local politician's hostility, causing them to become more concerned about their safety in their small town. During a public meeting on Monday night, several residents accused Councilman Christopher Allen, 24, of doxxing addresses. … The controversy began on July 19 when Allen posted images on Facebook showing front yards with campaign signs for council candidate Josh Johnson alongside American flags hung in a distress-signal style. In his post, Allen explained that he was highlighting disrespect to the national symbol. … Days after the social media post, Allen introduced a resolution requiring the United States flag be prominently displayed in all municipal building meeting rooms and mandating the pledge of allegiance as the first order of business for any public meeting performing governmental duties … Currently, the Belvidere Community Center and Pool Committee, where Allen serves as council liaison, do not regularly read the pledge of allegiance at meetings.' LIKE ERASING HISTORY WITH LIGHTNING — 'New Brunswick will rename Woodrow Wilson school to 'better reflect the community',' by MyCentralJersey's Cheryl Makin: 'The Board is Education is seeking nominations to help rename Woodrow Wilson Elementary School, named for the 28th president who is said to have had questionable ties to the Ku Klux Klan and racist leanings. On the heels of Princeton University, where Wilson served as its president for from 1902 to 1910, Monmouth University and the Camden School District which all have erased his name from buildings, New Brunswick Public Schools is seeking the same change 'that would better reflect the community.'' TOWN HALL EMPLOYEES GET SURPRISE INVITATION TO TURKISH BATH WITH PAULIE WALNUTS — 'Are there rats in Brick Town Hall?' by Jersey Shore Online's Bob Vosseller: 'Usually when someone says there are rats in town hall it is meant as an insult aimed at those serving in public office but recently that question has come up in a more literal sense. Mayor Lisa Crate and Business Administrator Joanne Bergin both told The Brick Times that despite commentary to the contrary by township employees, there is no rat infestation within Town Hall located at 401 Chambers Bridge Road. Bergin didn't rule out that a mouse might have found its way into the building that was built in the 1970s. Three employees who spoke anonymously with The Brick Times, saying they feared losing their jobs if they went public, made it clear that someone witnessed more than one rat in the building.' — 'Atlantic County homelessness surges 60% — officials cite 'housing affordability crisis'' —'Atlantic City Housing Authority votes to authorize response to HUD takeover' —'Glassboro-Camden Line closer than ever, but hurdles remain before construction can begin' —'Paterson police named in wrongful-death lawsuit by Najee Seabrooks' family seek dismissal' —'Camden police are now deploying social workers to city streets' —'DEP to unveil Liberty State Park Plan at open house next week' —'Essex prosecutor arrested for drunk driving still trying cases' —'Bayonne hospital workers & Jersey City nurses avoid strikes, ratify new contracts' —'Massive AI data center with major energy needs under construction in [Vineland]' EVERYTHING ELSE MILLZINNS — 'Rutgers set to make Keli Zinn its highest-paid athletic director ever,' by NJ Advance Media's Steve Politi and Brian Fonseca: 'The Rutgers Board of Governors is expected on Wednesday to approve a five-year contract for Keli Zinn that would make the longtime college administrator the highest-paid athletic director in school history, a person with knowledge of the situation told NJ Advance Media. Zinn, who is currently the executive deputy athletic director and chief operating officer at LSU, is set to make a base salary of $1.35 million that can rise if the athletic department hits any of the multiple incentives in the deal, the person said.' COUP D'WAH — 'Chief of Ramapough Lenape Nation in Mahwah unseated, arrested in tribal dispute,' by The Record's Marsha Stoltz: 'Dwaine Perry, principal chief of the 5,000-member Ramapough Lenape Nation since 2007, has been permanently removed from office by its Tribal Council and arrested for trespassing for trying to enter its Community Center on Stag Hill Road. The Tribal Council first announced Perry's 'temporary suspension' for alleged 'serious violations' in a May 27 statement. A hearing was reportedly held on June 1, and the Tribal Council announced on June 13 that it had 'voted unanimously to permanently remove, ban and disqualify former Chief Dwaine C. Perry from holding any current or future office.' Perry was arrested on July 22 for attempting to enter the tribe's Community Center, police reports show. … Perry, through his attorney Lydia Cotz, characterized the Tribal Council accusations as part of an attempted 'illegal coup.'' —''Jeopardy!' champ with 16-game streak addresses theory he deliberately lost final match' —'Meet the N.J. lifeguard who has been patrolling the Jersey Shore for decades' — 'Tolls could rise on Delaware River bridges connecting NJ and Pennsylvania'
Washington Post
29 minutes ago
- Washington Post
Live updates: Trump to unveil initiative to ease access to medical records
President Donald Trump is expected to announce an initiative at the White House on Wednesday to ease Americans' access to medical records, tapping the help of technology and health care companies. The White House has advertised an afternoon speech in the East Room on 'Making Health Technology Great Again.' Trump, who returned from a four-day trip to Scotland on Tuesday, also plans to sign legislation Wednesday. He is continuing to face fallout from his administration's decision to limit the release of files from the Jeffrey Epstein case, but White House officials believe the uproar from Trump's political base has calmed. Three weeks ago, White House officials were battling a frenzy from President Donald Trump's supporters over the Jeffrey Epstein case. But the flurry of criticisms from within the 'Make America Great Again' movement have quieted, and Trump officials say they are plotting steps to try to shape the public narrative to their advantage. The Senate voted Tuesday night to confirm Emil Bove as a federal appeals court judge, ending a contentious confirmation in which the top Justice Department official and former attorney for Donald Trump was the target of three whistleblower complaints alleging he put the president's agenda above legal principles. The 50-49 vote giving Bove a seat on the U.S. Court of Appeals for the 3rd Circuit was mostly along party lines. Defense Secretary Pete Hegseth's team on Tuesday denounced the Pentagon's internal review of his actions in the 'Signalgate' affair, calling the independent inquiry 'clearly a political witch hunt' and asserting without evidence that details of the nonpartisan review were leaked to the news media by 'Biden administration holdovers.' The Trump administration on Tuesday temporarily halted all funding for science research issued by the National Institutes of Health before releasing the funds later in the day, according to emails obtained by The Washington Post and more than a half-dozen federal officials familiar with the matter. The halt stemmed from a footnote in an Office of Management and Budget document, according to an email sent to NIH staff Tuesday afternoon by the NIH's associate director for budget, Neil Shapiro.
Yahoo
an hour ago
- Yahoo
White House set to unveil closely watched crypto policy report
By Hannah Lang (Reuters) -A cryptocurrency working group formed by President Donald Trump is set to release a report on Wednesday that is expected to outline the administration's stances on tokenization and market-defining crypto legislation, among other issues critically important to the digital asset industry. Shortly after taking office in January, Trump ordered the creation of a crypto working group tasked with proposing new regulations, making good on his campaign promise to overhaul U.S. crypto policy. Wednesday's report is a culmination of the task force's work so far and its first public findings. In line with Trump's January executive order, it will lay out what rules and laws should be enacted to advance the policy goals of the pro-crypto White House. Those include making sure that the Securities and Exchange Commission has a framework in place for firms to offer blockchain-based stocks and bonds, according to one person familiar with the discussions. The report is also expected to discuss the administration's wish list for legislation Congress is currently debating to create broad regulatory guidelines for cryptocurrency, according to a second person familiar with the report. The working group led by Trump official Bo Hines is composed of several administration officials including Treasury Secretary Scott Bessent, SEC Chair Paul Atkins and Director of the Office of Management and Budget Russell Vought. The White House, Treasury Department and the SEC did not immediately respond to requests for comment on the report. "While there have been regulatory regimes in place that have maybe been piecemeal or have allowed the industry to grow in certain ways, the recommendations that we expect to see in the report will be a good roadmap for how to build out crypto as a continued important part of the economy going forward," said Rebecca Rettig, chief legal officer at crypto firm Jito Labs. On the campaign trail, Trump courted crypto cash by pledging to be a "crypto president" and promote the adoption of digital assets. That is in stark contrast to former President Joe Biden's regulators which, in a bid to protect Americans from fraud and money laundering, cracked down on the industry. The Biden administration sued exchanges Coinbase, Binance and dozens more, alleging they were flouting U.S. laws. Trump's SEC has since dropped those cases. TOKENIZATION, STABLECOINS, MARKET STRUCTURE Industry participants will be looking closely at what the report says about tokenization, the process of turning financial assets - such as bank deposits, stocks, bonds, funds and even real estate - into crypto assets. Crypto firms and others have been increasingly discussing the prospect of tokenizing securities as a new way to facilitate trading. Coinbase recently told Reuters it was seeking a U.S. green light from the SEC to offer blockchain-based stocks. The SEC has yet to weigh in publicly on that request. Wednesday's report is expected to recognize the need for the SEC to develop a framework for tokenization, according to a source familiar with the discussions, but the details of the language were not immediately clear. The report will also lay out what the White House would like to see from market structure legislation working its way through Congress, according to a separate person with knowledge of the report. The House of Representatives passed a bill called the Clarity Act earlier this month that would create a formal regulatory regime for crypto, and the U.S. Senate is considering its own version of the measure. Earlier this month, Trump signed into law a bill to create federal rules for stablecoins, a type of cryptocurrency pegged to the U.S. dollar. That move was hailed as a major win for the digital asset industry, and the White House has said it wants Congress to pass market structure legislation next, which would have far wider repercussions for the industry. The crypto sector has for years argued that existing U.S. regulations are inappropriate for cryptocurrencies and has called for Congress and regulators to write new ones that clarify when a crypto token is a security, commodity or falls into another category, like stablecoins. The president's support for the crypto industry has sparked conflict-of-interest concerns, which at times have threatened to derail congressional crypto legislation. Trump's family has launched cryptocurrency meme coins, and the president also holds a stake in World Liberty Financial, a crypto platform. The White House has denied that any conflicts of interest are present.
