New COIN Act Targets White House Crypto Ventures Amid Trump’s $57M DeFi Earnings

U.S. Senator Adam Schiff has introduced the Curbing Officials’ Income and Nondisclosure (COIN) Act, aiming to prevent sitting presidents, vice presidents, and their families from profiting through cryptocurrency ventures. The bill arrives as former President Donald Trump faces scrutiny over $57.4 million in earnings from a DeFi venture, according to recent financial disclosures.

Schiff directly linked the legislation to Trump’s activities, citing ethical and constitutional concerns over potential self-enrichment. The COIN Act WOULD bar senior U.S. officials and their immediate relatives from issuing, sponsoring, or endorsing cryptocurrencies—including stablecoins, meme coins, and NFTs.

The move underscores growing regulatory attention on the intersection of political power and digital assets. While no specific coins or exchanges are named in the bill, its implications could ripple across the crypto market as lawmakers seek tighter oversight of public figures’ financial dealings.