Democratic senator introduces bill targeting Trump’s crypto ties, seeking to ban officials from endorsing crypto projects

币界网报道:U.S. Senator Adam Schiff introduced the COIN Act to prohibit top public officials, including the president and their families, from issuing or endorsing crypto assets like meme coins, NFTs, or stablecoins for 180 days before and two years after their term. The bill, co-sponsored by nine Democratic senators, follows Schiff's support for the GENIUS Act, a bipartisan stablecoin bill recently passed despite concerns over Trump's crypto ventures. Schiff criticized Trump's alleged exploitation of presidential power for personal gain, citing ethical and legal concerns. Trump-affiliated World Liberty Financial launched the USD1 stablecoin, now valued at $2.2 billion, with Trump reportedly earning $57.35 million from its token sales in 2024. Similar legislative efforts, like Rep. Ritchie Torres' bill against "presidential profiteering from crypto," face challenges due to Democratic minority status in Congress.

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