📜 The COIN Act has just been proposed to prohibit the President, lawmakers, and immediate family members:
Issuing, endorsing, or funding crypto, including meme coins, NFTs, and stablecoins.
Term: 180 days before taking office to 2 years after leaving office.
💬 According to Congressman Schiff, this law aims to prevent conflicts of interest and abuses of power in the rapidly evolving crypto market.
⏱️ Notably: The COIN Act comes right after Schiff supported the GENIUS Act, which paves the way for the strong development of stablecoins.
⚖️ The COIN Act is co-sponsored by 9 other Democratic senators, reflecting growing concerns about officials exploiting their influence to profit from crypto.
#crypto #coin