🇺🇸🚨 New Bill targets Trump’s Crypto Cash Grab! 💰⚖️ Senators to Stop Digital Asset Profiteering by Officials 🚫🪙
🏛️ California Senator Adam Schiff, along with nine other Democratic lawmakers, has introduced the Curbing Officials’ Income and Nondisclosure (COIN) Act.
💼 This legislation aims to prevent public officials—including the President and their families—from profiting off digital assets such as cryptocurrencies, stablecoins, memecoins, and NFTs during and after their time in office.
💵 The bill was introduced in response to President Donald Trump’s reported $57.4 million income from World Liberty Financial (WLF), a crypto platform backed by his family.
🚫 The COIN Act proposes a ban on issuing, sponsoring, or endorsing digital assets starting 180 days before and extending two years after an official’s tenure.
⚠️ This measure seeks to address concerns over conflicts of interest and misuse of public office for personal financial gain.
🏛️ This effort follows similar moves in the House, where Congresswoman Maxine Waters introduced the TRUMP in Crypto Act, targeting Trump’s memecoin activities.
🤔 However, both bills face challenges in gaining enough support to pass, especially with current political dynamics and the possibility of a presidential veto.