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BTCC / BTCC Square / Global Cryptocurrency /
Senator Schiff Introduces Conflicting Crypto Legislation Amid Trump Controversy

Senator Schiff Introduces Conflicting Crypto Legislation Amid Trump Controversy

Author:
Global Cryptocurrency
Published:
2025-06-23 23:16:02
7
1
BTCCSquare news:

Senator Adam Schiff (D-CA) unveiled the COIN Act, aiming to prohibit U.S. presidents, vice presidents, and their families from engaging in cryptocurrency ventures while in office. Violations could result in civil fines and up to five years imprisonment. The bill explicitly targets meme coins, NFTs, and stablecoins—asset classes recently embraced by former President Donald Trump.

The move contradicts Schiff's vote last week to advance a separate crypto bill lacking presidential restrictions. That legislation, now awaiting Senate approval, would permit Trump to pursue stablecoin projects. Schiff's pivot reflects growing Democratic scrutiny of crypto's political entanglement, particularly after Trump's recent embrace of digital assets.

|Square

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