The US Senator Adam Schiff has introduced a new bill that is aimed at preventing President Donald Trump and his relatives from enriching through Crypto.
The potential legislation, entitled The Curbing Officials’ Incoming and Nond Disclosure (Coin) Act, would prohibit the President, Vice President, High-ranking employees of the executive, special government employees and congress members of the Congress Digital Assets.
The prohibition would last two years thereafter from 180 days prior to the public services of a person, and it would also extend to the immediate family members of civil servants.
If adopted, the bill would also require civil servants to include crypto activa in their annual financial disclosures and periodic transaction reports.
Schiff (D-California) says in a new press release that Trump’s Crypto-Deals “have expressed considerable ethical, legal and constitutional concern about his use of the presidency’s office to enrich himself and his family.”
“That is why I am introducing legislation to prevent the financial exploitation of digital assets by civil servants, including the president and the first family. We need much greater research from the president’s financial transactions and to prevent him and any other politician from benefiting from such schemes.”
The recent financial disclosure of Trump at the US office of the public ethics indicated that he had more than $ 57.3 million in income from the Decentralized Finance (Defi) Platform World Liberty Financial (WLFI) in his pocket.
Income from Trump’s controversial memecoin, official Trump, was not mentioned on the disclosure because it was released in 2025.
Ethereum (ETH) Founder Vitalik Buterin said earlier this year that political coins represented ‘vehicles for unlimited political bribery’.
In a letter from February to the US Department of Justice (DOJ) and the Office of Government Ethics, officials from the Non -Profit Consumer Interest Organization Public Citizen argued that Trump could be contrary to the federal legislation that regulates gifts to government functions.
The president organized the Top 220 Trump Memecoin Holders last month in his private national golf club in Washington, DC. The announcement of the event ensured that the price of the assets shot up.
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