šØ COIN Act: Senator Schiff Targets Presidential Crypto Involvement
On June 23, 2025, U.S. Senator Adam Schiff introduced the COIN Act, aiming to ban the president, VP, and their families from crypto ventures while in office š§¾.
The move follows rising concerns over President Trumpās crypto activity, including launching memecoins and stablecoins šŖ.
āDonald Trump and other officials have made millions from crypto. The COIN Act stops this corruption in plain sight.ā ā Adam Schiff
š§± Whatās in the Bill?
š« No issuing, endorsing, or profiting from crypto
šØ Covers NFTs, meme coins, and stablecoins
š° Must disclose digital sales over $1,000
āļø Violators face fines + up to 5 years prison
Trump has launched TRUMP coin, his wife MELANIA, and their firm WLFI plans a $390M token sale. Trumpās earnings from crypto exceed $58M, according to disclosures š.
Senator Blumenthal also opened a Senate investigation into Trumpās crypto businesses, including mining and DeFi projects š.
āļø GENIUS Act Conflict
Schiff supported the GENIUS Act, regulating stablecoins but exempting the president/VP. After backlash, Schiff and 9 Democrats co-sponsored the COIN Act š¤.
š More Democratic Pushback
Other proposals include:
MEME Act š
Stop TRUMP in Crypto Act ā
Though unlikely to pass in a Republican-controlled Congress, these bills signal deep concern šļø.
š Insight: Crypto and politics are now tightly linked ā and lawmakers are moving fast to protect ethics and transparency š”ļøš¼
#COINAct #CryptoPolitics #TRUMPtoken #NFT #BTC $BTC $WCT $BNB