- Bill targets presidential enrichment via crypto assets.
- Seeks to curb misuse of office for personal gain.
- Could affect politically-linked memecoins and tokens.
Senator Adam Schiff led the introduction of the Curbing Officials’ Income and Nondisclosure (COIN) Act. The bill, as reported by Lynch House, aims to curb financial exploitation of digital assets by senior officials. Congresswoman Maxine Waters presented a similar proposal in the House. Trump’s alleged crypto connections have sparked the legislative push.
“President Donald Trump’s cryptocurrency dealings have raised significant ethical, legal and constitutional concerns over his use of the office of the presidency to enrich himself and his family. That’s why I am introducing legislation to prevent the financial exploitation of any digital assets by public officials, including the president and the First Family.” — Senator Adam Schiff
The bill focuses on preventing financial gains through crypto assets by sitting presidents and their families. World Liberty Financial, linked to Trump, is central to the debate. The legislation highlights conflicts of interest surrounding political figures’ involvement in cryptocurrencies.
The initiative impacts potential personal financial ventures of U.S. presidents and may pave the way for more comprehensive crypto-related regulations. Trump’s connections to cryptocurrencies underscore the need for ethical oversight, as senator Schiff advocates for stricter measures. Democratic lawmakers urge for clarity in cryptographic engagements.
The bill could reshape how political figures interact with cryptocurrencies, possibly affecting regulatory, and financial outcomes for officials. Crypto regulations could become more stringent as ethical debates continue. As the legislative process unfolds, the impact on crypto and political landscapes remains under scrutiny.
About the author
Former Coral Capital Executives Plan $100M BNB Acquisition
Ex-Coral Capital leaders form Build & Build Corp for $100M Binance Coin acquisition by mid-2025.
Whale Acquires $6.01 Million in ETH and WBTC
Whale purchases 2,000.74 ETH and 11.06 WBTC worth $6.01 million, no major market impact.
Bitcoin Surges Beyond $105,000 Amid Institutional Influx
Bitcoin surpasses $105,000 fueled by institutional inflows and ETF demand. Analysts anticipate long-term growth as major investors show interest.
Senator Schiff Pushes Bill Targeting Trump’s Crypto Earnings
Senator Schiff introduces COIN Act to curb Trump’s potential crypto earnings tied to office.
Benchmark Ups Coinbase Price Target to $421 Amid Regulatory Gains
Benchmark raises Coinbase's price target, reflecting confidence in its regulatory and fintech position.
Metaplanet Buys $118 Million Bitcoin, Outpaces Competitors
Metaplanet Inc. announces the acquisition of 1,111 Bitcoin, increasing their holdings to 11,111 BTC, highlighting a strategic corporate trend towards Bitcoin integration.
Related
Former Coral Capital Executives Plan $100M BNB Acquisition
Ex-Coral Capital leaders form Build & Build Corp for $100M Binance Coin acquisition by mid-2025.
Whale Acquires $6.01 Million in ETH and WBTC
Whale purchases 2,000.74 ETH and 11.06 WBTC worth $6.01 million, no major market impact.
Bitcoin Surges Beyond $105,000 Amid Institutional Influx
Bitcoin surpasses $105,000 fueled by institutional inflows and ETF demand. Analysts anticipate long-term growth as major investors show interest.
TRX Targets $0.30, HYPE Climbs to $50, & BlockDAG’s $318.5M Presale Turns Heads
Track TRX and HYPE price moves, then uncover how BlockDAG’s $0.0020 entry and $318.5M presale position it as a top pick among bullish crypto coins for 2025.
Benchmark Ups Coinbase Price Target to $421 Amid Regulatory Gains
Benchmark raises Coinbase's price target, reflecting confidence in its regulatory and fintech position.
Trump Coin, ONDO, & Unstaked Compared: Which One Is the Top Bullish Crypto in 2025?
Catch out the latest insights on Trump coin price volatility, ONDO price chart trends, & Unstaked’s architecture-first strategy. See why Unstaked is gaining traction as the top bullish crypto heading into 2025.
Be the first to leave a comment