US Lawmakers Ramp Up Pressure with COIN Act—Crackdown on Officials Profiting from Crypto

Washington draws a hard line—politicians could soon face a total ban on crypto trading under the newly proposed COIN Act. The bill targets insider advantages in digital assets, forcing transparency in a market that thrives on opacity.

No more backdoor gains—lawmakers want to slam the door shut on officials capitalizing on confidential crypto intel. Because nothing says 'public service' like watching elected officials out-trade retail investors.

The irony? Half these politicians couldn’t explain blockchain if their portfolios depended on it—which, until now, they absolutely did.

The COIN Act

The COIN Act outlines a series of restrictions and disclosures to prevent conflicts of interest.

It proposes a ban on issuing, promoting, or endorsing any digital asset, including memecoins, NFTs, and stablecoins, by key government figures.

This restriction applies to presidents, vice presidents, members of Congress, executive branch employees, and their immediate family members. It covers a period starting 180 days before they take office and ending two years after they leave.

Public officials must include all digital asset holdings and transactions in annual financial disclosures and real-time transaction reports.

The bill further clarifies that involvement in crypto falls under federal conflict-of-interest laws, requiring officials to step back from decisions where they may have a financial stake.

To curb indirect profiteering, the legislation WOULD require stablecoin issuers to submit quarterly reports verifying that no government official is personally benefiting from their tokens. These reports would be required for regulatory approval.

The bill also directs the Government Accountability Office to produce a detailed review of ethics laws related to digital assets within a year, offering guidance for future policy updates.