Democratic lawmakers have proposed legislation that seeks to block U.S. public officials, including the President, from profiting off digital assets during and after their time in office.Dubbed the Curbing Officials’ Income and Nondisclosure, or COIN, Act, the legislation came in response to concerns over President Donald Trump’s financial ties to cryptocurrency ventures.
The bill was introduced by Senator Adam Schiff and co-sponsored by nine other Democratic lawmakers, following reports that Trump earned $57.4 million in 2024 through World Liberty Financial, a crypto platform linked to his family.
Schiff said the president’s digital asset activities have raised serious ethical and constitutional concerns, pointing to what he described as Trump’s use of public office for personal financial gain.
The COIN Act has been tailored to prevent what its sponsors call the “financial exploitation of digital assets” by elected officials and their immediate families.
According to the text of the COIN Act, the legislation would prohibit current and former public officials, including the president, vice president, members of Congress, and high-ranking executive officials, from issuing, sponsoring, or promoting digital assets such as meme coins, NFTs, and stablecoins.
This restriction would apply for 180 days prior to taking office and continue for two years after leaving office. Immediate family members would also be subject to the same rules.#TRUMP #Write2Earn 