Sen. Schiff Introduces Bill to Restrict Politicians’ Crypto Involvement

Senator Adam Schiff unveiled the COIN Act, legislation aimed at prohibiting government officials—including the president and their immediate family—from launching or promoting cryptocurrencies. The proposed ban WOULD apply six months before taking office and extend two years after leaving public service.

The bill targets potential conflicts of interest, with Schiff specifically citing concerns about former President Donald Trump's World Liberty Financial venture. Nine Democratic co-sponsors joined the effort, alleging Trump's crypto advocacy may constitute unethical self-enrichment.

"No president should monetize their office through speculative digital assets," Schiff stated in a social media post accompanying the announcement. The legislation reflects growing scrutiny of politicians' financial ties to the volatile crypto sector.