Just as the U.S. Congress is preparing for a crucial vote on digital asset regulations, Senate Democrats suddenly throw out a heavy proposal, attempting to legally sever the 'potential profit chain' between officials and cryptocurrencies. This bill, named **'End Crypto Corruption Act'**, quickly sparked heated discussions in Washington and throughout the crypto community.
According to the content of the bill, if the legislation passes in the future, the President, Vice President, members of Congress, senior federal officials, and their immediate family members will be prohibited from:
Create digital assets;
Promote digital assets;
Own or trade cryptocurrencies.
Once violations occur, there will be a maximum fine of $1 million and a requirement to return all profits. What's more 'deterrent' is that this ban applies not only during the official's term but continues to be effective even after leaving office.
🟠 Legislative purpose: Restore public trust and prevent power rent-seeking?
The bill's proposer, Democratic Senator **Jeff Merkley**, emphasized at a press conference:
"The purpose of this legislation is to restore the trust of the American people in Congress. We have seen too many high-ranking officials profiting from cryptocurrency investments, using public resources for personal gain. This corruption must be ended."
Merkley pointed out that some officials might profit from privately issued tokens, even using their regulatory power to 'conduct covert operations'. Such behavior 'endangers national security and undermines public trust in the government.'
The bill has also received public support from Senate Majority Leader Chuck Schumer, who warned:
"When elected officials are directly tied to a certain digital asset, their decisions will be tainted by conflicts of interest, providing penetration channels for foreign forces and capital groups, ultimately eroding the foundations of democracy."
🟠 Aimed at Trump? Is the 'crypto version of Watergate' unfolding?
Although the bill does not specifically name targets, the public generally believes that this proposal largely 'aims at' former President Donald Trump and his family.
The reason is that in recent months, Trump and his family members have been exposed to have 'close ties' with multiple digital asset projects:
The stablecoin Rusty1, launched by Trump's associated company World Liberty Financial, has surpassed a market value of $2.1 billion;
A meme coin named after Trump's likeness has quietly become popular, with its market value once skyrocketing. It is rumored that the Trump family and advisors hold over 80% of the supply, with the public share being only 10%;
Moreover, it has been reported that the top 25 meme coin holders are about to be invited to a private dinner for a 'close-up meeting' with Trump.
Critics believe this is tantamount to 'exchanging tokens for political access', opening the floodgates for 'pay-to-influence', and these tokens are also open for purchase by foreign investors, potentially embedding risks of foreign intervention.
The Republican side is currently collectively 'silent' and has not spoken out about this, further intensifying doubts about the 'protective umbrella' within the party.
🟠 The bill promotes an escalation in the regulatory game surrounding digital assets.
"The timing of the 'End Crypto Corruption Act' is quite subtle. Just two days later, the Senate will vote on a bipartisan stablecoin regulatory bill."
Analysts point out that this 'Ethics Bill', while targeting the personal conduct of officials, may very well influence 'regulatory sentiment' before voting, garnering more support for stricter regulations, especially from centrist swing lawmakers.
Opponents do exist. Long-time supporter of digital assets, **Senator Cynthia Lummis of Wyoming**, has publicly expressed concerns:
"Officials should also have the basic right to manage their personal property. If a one-size-fits-all ban is implemented indiscriminately, it may raise constitutional disputes."
However, this bill has received support from several anti-corruption advocacy organizations. **'Citizen advocacy organizations'** have publicly stated:
"Emerging financial products like stablecoins should not become tools for politicians to engage in corruption. The public needs a transparent and fair governance environment."
🟠 The response from the crypto community: turbulence and reflection coexist.
Once the bill was published, the cryptocurrency community quickly erupted. KOLs pointed out that this marks the 'crypto and political confrontation entering a new phase', with regulators reaching out to the 'core power structure' of the industry.
Some investors are concerned:
If the bill passes, the policy support window for digital assets will further narrow in the future;
Pro-crypto politicians like Trump and Biden will be forced to 'take sides' due to conflicts of interest;
In the long run, this may be a **'systematic cleansing'** before the U.S. 'incorporates crypto into formal finance'.
Some also pointed out that this bill is essentially a counterattack against 'privatizing public power', reminding the industry to shift from 'speculative trading' to 'long-term value'.
🟠 Mlion.ai viewpoint: Opportunities and challenges coexist, with 'policy risk' becoming an important variable in trading in the future.
In the face of an increasingly complex regulatory environment, traders need to be aware that future price influences will come not only from market sentiment, on-chain data, and technical analysis, but also from policy risks and macro trends.
With Mlion.ai's multidimensional data dashboard, real-time monitoring can be conducted:
✅ Policy events and public sentiment changes;
✅ KOL and institutional fund flows;
✅ The direct impact of legal changes on on-chain transactions.
This 'information asymmetry' advantage may be the key to capturing opportunities and hedging in the volatile market in the future.
Conclusion
"End Crypto Corruption Act" may just be the 'first step' in U.S. digital asset governance, with more storms yet to come. In the complex situation intertwined with policies, markets, technologies, and public sentiment, how to see the direction clearly amidst the noise is a mandatory course for every investor.
Disclaimer: The above content is for informational sharing only and does not constitute any investment advice! Investment involves risks, and caution is required when entering the market.
