Ten Democratic lawmakers have introduced the "COIN Act," aimed at preventing conflicts of interest related to cryptocurrency for presidents and public officials. Spearheaded by Senator Adam Schiff, the bill arrives following reports of Donald Trump's significant income, $57.4 million, from World Liberty Financial (WLFI), a DeFi platform with Trump family involvement. Key Provisions of the COIN Act The proposed legislation specifically prohibits public officials from issuing, sponsoring, or promoting cryptocurrencies, meme coins, and stablecoins. This restriction applies throughout their term in office, as well as 180 days prior to taking office and for two years following their departure. Addressing Potential Conflicts Lawmakers argue the bill is necessary to safeguard against public officials potentially leveraging their position to benefit from the cryptocurrency market, emphasizing the importance of maintaining impartiality and preventing undue influence. The bill's focus on preventing the promotion of specific cryptocurrencies highlights a concern over potential "pump and dump" schemes or insider trading activities. ```