U.S. Senator Who Called Bitcoin \'Ideal Choice for Criminals,\' Convicted of Bribery

Menendez's sentencing has been scheduled for October 29 and he could face decades in prison.

A U.S. senator who once called bitcoin (BTC) "an ideal choice for criminals" has now been convicted of accepting bribes, including gold bars and a luxury car, in exchange for his political clout.

A jury found Democratic Senator Bob Menendez of New Jersey guilty on Tuesday of accepting the bribes from a wealthy donor and close friend, Salomon Melgen, over a seven-year period, according to a report by Reuters.

Menendez, a staunch crypto critic, was also a co-sponsor of a bill titled the "Accountability for Cryptocurrency in El Salvador (ACES) Act." The bill would have required the State Department to report on mitigating risks to the U.S. financial system from El Salvador's adoption of bitcoin as legal tender.

The senator's conviction sparked reactions from the crypto community, with some members highlighting the irony of the situation.

"While Senator Menendez was hiding bars of ill-gotten gold ... President Bukele was establishing the most transparent government in the world by posting El Salvador’s public bitcoin address for all the world to audit," wrote Stacy Herbert, a member of The National Bitcoin Office (ONBTC) of El Salvador under President Nayib Bukele, in an op-ed for X.

"The malign actor was Bob Menendez. The Senate Foreign Relations Committee, which Menendez chairs, owes President Bukele and El Salvador an apology," Herbert added.

Menendez, who is the first sitting member of Congress to be convicted of acting as a foreign agent, maintained his innocence after the verdict.

"I have never been anything but a patriot of my country and for my country. I have never, ever been a foreign agent," Menendez said outside the courthouse.

"This wasn’t politics as usual; this was politics for profit," said U.S. Attorney Damian Williams in a statement. "Because Senator Menendez has now been found guilty, his years of selling his office to the highest bidder have finally come to an end."

Menendez has been a congressperson since 1993, entering the Senate in 2006. Despite numerous calls from senior colleagues to resign, including Democratic Senate Majority leader Chuck Schumer, Menendez has refused to do so.

Menendez's sentencing has been scheduled for October 29. He could face decades in prison.

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