Overview

• The COIN Act would bar the president, vice president, senior executive branch employees, members of Congress and their immediate family from issuing, sponsoring or endorsing digital assets during their term and for two years afterward.
• Senator Schiff cited President Trump’s roughly $57 million earnings from his family-launched ventures, including World Liberty Financial’s stablecoin and a Trump-branded memecoin.
• Last week’s Senate approval of the GENIUS Act created a national regulatory framework for payment stablecoins, and the bill now moves to the House for consideration.
• The crypto industry’s political influence was highlighted by the Fairshake super PAC’s $10 million expenditure against Schiff’s primary opponent and extensive lobbying efforts.
• Parallel proposals from Representative Ritchie Torres, Senator Chris Murphy and others seek similar restrictions to prevent financial exploitation by public officials through digital assets.