LeyCOIN
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🚨 Senator Adam Schiff introduced the Cryptocurrency Officials Income and Confidentiality Limitation Act (COIN), a bill aimed at restricting the involvement of White House officials and their families in cryptocurrency-related activities. This bill prevents public officials, including the President and Vice President of the United States, from launching, promoting, or profiting from cryptocurrencies.
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The COIN Act: Who is in the crosshairs?
Just a few days after the U.S. Senate approved the GENIUS Act, Senator Adam Schiff introduced the COIN Act, a new bill that would prohibit the president and his immediate family from profiting from cryptocurrencies during their term. The new legislation aims to prohibit U.S. high-ranking officials from issuing, sponsoring, or endorsing digital assets like memecoins, stablecoins, and NFTs, as President Trump has already done.
It is reported that the COIN Act is proposed in response to Trump's cryptocurrency ventures and his alleged earnings of 57.4 million dollars from his DeFi project. The law will also apply to high-ranking officials of the Executive Branch, members of Congress, and their immediate families, with possible penalties including monetary fines and prison sentences. In a post on X, Senator Schiff noted:
It is reported that the COIN Act is proposed in response to Trump's cryptocurrency ventures and his alleged earnings of 57.4 million dollars from his DeFi project. The law will also apply to high-ranking officials of the Executive Branch, members of Congress, and their immediate families, with possible penalties including monetary fines and prison sentences. In a post on X, Senator Schiff noted:
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