The American political scene is heating up again. Senator Adam Schiff has introduced a bill called the COIN Act, aimed at banning the U.S. President, their family, and top officials from profiting off cryptocurrencies. The reason? Concerns over corruption and abuse of power.


🔒 What Does the COIN Act Propose?

The COIN Act (Curbing Officials' Income and Disclosure) aims to prohibit U.S. presidents, vice presidents, and high-ranking officials from launching, promoting, or profiting from cryptocurrencies and digital assets. The restriction would also extend to their immediate family members.

Schiff describes the proposal as a direct response to Donald Trump’s crypto-related ventures – including his own TRUMP memecoin, involvement in the World Liberty Financial project, and a reported profit of $57 million from DeFi activities.

“President Trump and his allies have made millions from crypto schemes. The COIN Act aims to put a stop to this corruption,” Schiff posted on X.


⚖️ Ethics and Transparency in Focus

The bill is designed to raise ethical standards for public officials dealing with crypto. Violations could result in hefty fines or even imprisonment. The goal is to prevent conflicts of interest and ensure that those in power don’t exploit controversial technologies while in office.

Schiff added:

“Trump’s actions raise serious legal and constitutional concerns about exploiting presidential power for personal gain. This bill ensures no president can do that—now or in the future.”


⚠️ Trump’s Crypto Past Under Scrutiny

Trump has been building his crypto reputation in recent months. His company, Trump Media & Technology Group, reportedly secured $2.5 billion to build a Bitcoin treasury. He has also been linked to several token and NFT projects, from which he personally profits.

Although the COIN Act targets Trump directly, it ironically contradicts another bill recently supported by Schiff — the GENIUS Act. That legislation bans certain executive officials from issuing stablecoins but specifically exempts the president and vice president.

This inconsistency is now raising fresh debates about who should be allowed to operate in the crypto space — and under what conditions.



#crypto , #Regulation , #TrumpCrypto , #BTC , #CryptoMarket

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