As cryptocurrency becomes the wealth engine of the new era, it also becomes the main battleground for power struggles. The latest in the beautiful country's political arena.
This shock is unfolding — Democrat Adam Schiff proposed the (COIN Act), targeting the Trump family's 'World Freedom Finance' empire, aimed at all current or former high-ranking officials' cryptocurrency wealth channels!
Legislative encirclement is coming! Schiff swings the knife to sever the 'token regime'?
This proposal titled (Restricting Officials' Income and Non-Disclosure) (COIN Act) clearly stipulates:
The President, Vice President, cabinet members, and their immediate family members are prohibited from issuing, endorsing, or holding any cryptocurrency, stablecoin, NFT, or meme coin during their terms.
Add a 180-day cooling-off period before resignation + a 2-year prohibition period after resignation
All crypto transactions exceeding $1000 must be publicly declared, and violators face criminal accountability.
The focus is unambiguously directed at 'Meme Coin President' Trump and his 19-year-old son Barron, who made huge profits in WLF company — over $57 million in income just for 2024!
'Meme Coin Gate' exposed, how deep is the water behind WLF?
WLF started by issuing a '1 dollar stablecoin'.
Trump has been siphoning money globally through WLF, with family holdings once reaching 75%, recently quietly dropping to 40%.
Capital with Abu Dhabi background has made a high-profile investment, rumored to involve an amount as high as $2 billion.
This is no longer an ordinary business conduct but a financial storm that affects the political and economic landscape!
Why are the Democrats taking action at this moment? The battle for crypto regulation under the cover of political strife!
Democrat Senator Luján directly fired back: 'President Trump is privatizing national power, this is outright corruption.'
The COIN Act, in conjunction with the (MEME Act), attempts to comprehensively control public officials' participation in the crypto market.
However, Congress is currently dominated by Republicans, making it extremely difficult for the bill to pass, and even if it does, Trump's veto power could still kill it.
A regulatory storm is coming, where is the crypto market heading?
This is not only a political game but also the ultimate question of whether 'power can stain decentralized assets'.
If the (COIN Act) passes, it will inevitably trigger a massive shock in the cryptocurrency market, especially meme coins and NFT projects related to public figures will face a trust crisis.
This is a direct confrontation between cryptocurrency and power structures!
Cryptocurrency assets are becoming new political weapons.
The boundaries of transparency and regulation are being reshaped.
The political intent behind the 'Presidential Coin' will be subjected to unprecedented scrutiny.
This is a clash about trust, interests, and future digital power. The crypto world is entering deep waters, and this political storm may just be the prologue.
