Democrats Propose COIN Act to Restrict Crypto Profits for Public Officials

Democratic lawmakers have introduced the Curbing Officials’ Income and Nondisclosure (COIN) Act, targeting financial exploitation of digital assets by U.S. public officials. The legislation, spearheaded by Senator Adam Schiff, aims to block current and former officials—including the President—from profiting off cryptocurrencies during and after their tenure.

The bill responds to concerns over President Donald Trump’s reported $57.4 million earnings in 2024 through World Liberty Financial, a crypto platform tied to his family. Schiff framed the move as a safeguard against ethical breaches, accusing Trump of leveraging public office for personal gain.

If enacted, the COIN Act WOULD impose a 180-day pre-office and two-year post-office ban on issuing, sponsoring, or promoting digital assets like meme coins, NFTs, and stablecoins. The restrictions apply to presidents, vice presidents, Congress members, and senior executive branch officials.