Democratic Senators Elizabeth Warren and Elissa Slotkin are demanding investigations into potential ethics violations by Trump administration officials regarding a $2 billion UAE investment in World Liberty Financial. The probe centers on interconnected deals involving AI chip exports and the Trump family’s cryptocurrency venture. The senators allege the transactions created troubling conflicts of interest and national security concerns.
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Pennsylvania Bans Crypto Transactions for Public Officials
Pennsylvania’s HB1812 legislation introduces strict ethics standards for public officials regarding digital assets, requiring disclosure of holdings over $1,000 and mandatory divestment within 90 days of enactment. The bill prohibits officials from crypto transactions during their term and for one year after leaving office, with violations classified as felonies carrying fines up to $10,000 or five years imprisonment. The legislation also extends restrictions to immediate family members and establishes a 60-day implementation period. This state-level action mirrors federal initiatives like the COIN Act and MEME Act, reflecting bipartisan concern about crypto-related conflicts of interest as digital assets become mainstream investment vehicles.
read moreSenator Schiff’s COIN Act Targets Trump’s Crypto Plans
Senator Adam Schiff has introduced the COIN Act, a legislative proposal designed to restrict former officials, including Donald Trump, from issuing or controlling cryptocurrencies. This move highlights the growing intersection of politics and digital assets, raising questions about regulatory oversight and political influence in the crypto space. The bill could set a precedent for how cryptocurrencies are governed in the U.S., potentially impacting future policies and market dynamics.
read moreUS House Announces ‘Crypto Week’ to Review Key Digital Asset Bills
The US House of Representatives has announced ‘Crypto Week’ starting July 14, during which lawmakers will review three significant digital asset bills: the CLARITY Act, the Anti-CBDC Act, and the GENIUS Act. These bills aim to establish a clear regulatory framework for cryptocurrencies, protect consumers, and prevent the creation of a Central Bank Digital Currency (CBDC). The CLARITY Act introduces a dual regulatory framework involving the SEC and CFTC, while the Anti-CBDC Act seeks to block the Federal Reserve from issuing a digital dollar. Meanwhile, the GENIUS Act, which passed the Senate, faces opposition from Democrats over concerns about President Trump’s ties to the crypto industry. The House is prioritizing these bills as part of efforts to make the US the global leader in crypto innovation.
read moreAqua1 Invests $100M in Trump-Linked WLFI Crypto Project
Aqua1 Foundation, a UAE-based Web3 investment group, has invested $100 million in WLFI tokens, the native governance token of World Liberty Financial (WLFI), a crypto venture co-founded by Donald Trump’s sons. This investment surpasses Justin Sun’s $30 million commitment and positions Aqua1 as a major stakeholder in WLFI’s ecosystem, focusing on real-world asset tokenization, stablecoins, and DeFi infrastructure. The Trump family’s involvement in crypto deepens, though their stake in WLFI has quietly dropped from 60% to 40%. Meanwhile, ethical concerns mount as Democrats introduce the COIN Act to curb public officials’ crypto dealings, targeting Trump’s growing crypto influence. The bill seeks to close ethical gaps by restricting crypto activities for officials and their families 180 days before taking office.
read moreSchiff’s COIN Act Targets Trump’s Crypto Profits
Senator Adam Schiff (D-California) has proposed the COIN Act, a bill designed to prevent public officials like Donald Trump from leveraging their positions for crypto-related financial gains. The legislation would ban presidents, vice presidents, and other high-ranking officials from issuing, sponsoring, or endorsing digital assets from 180 days before their term until two years after. It also mandates crypto disclosures in financial reports. Schiff cited Trump’s $57.3 million income from DeFi platform WLFI and his memecoin ‘Official Trump’ as ethical concerns. Critics, including Ethereum’s Vitalik Buterin, warn political coins enable bribery. The bill follows scrutiny over Trump’s memecoin holder event at his golf club, which spiked the token’s value.
read moreSenate GOP Outlines Crypto Market Structure Principles
The Senate Banking Committee, led by Republicans including Tim Scott (R-SC) and Cynthia Lummis (R-WY), released principles to guide crypto market legislation, focusing on regulatory clarity, innovation, and consumer safeguards. The principles aim to define digital asset status, streamline oversight, and implement targeted anti-money laundering measures. This follows momentum around the Digital Asset Market Clarity Act, which shifts oversight from the SEC to the CFTC. Meanwhile, Democrats like Sen. Adam Schiff (D-Calif.) introduced the COIN Act to prevent presidential crypto profiteering, contrasting with Trump-backed legislation. The debate unfolds as federal agencies, including the FHFA, explore crypto’s role in financial systems.
read moreCOIN Act Targets Crypto Ethics for U.S. Officials
The newly proposed COIN Act seeks to prevent U.S. officials, including the President and Congress members, from promoting or profiting from digital assets before, during, and after their tenure. Introduced by Senator Adam Schiff, the bill responds to reports of Trump earning $57 million from crypto ventures, raising ethical concerns. The legislation would enforce a ban on crypto endorsements, mandate financial disclosures, and require stablecoin firms to certify no official involvement. Additionally, it updates the Ethics in Government Act to include digital assets in financial interest declarations. This move follows growing scrutiny over crypto’s role in political influence, with Democrats pushing for stricter oversight amid regulatory advancements like the GENIUS Act.
read moreSchiff’s COIN Act Targets Trump’s Crypto Profits
Senator Adam Schiff’s COIN Act aims to ban current and recent top U.S. officials, including the president, from issuing or endorsing cryptocurrencies, NFTs, or memecoins during their term and for 180 days before and two years after leaving office. The bill also mandates disclosure of digital asset sales over $1,000 and imposes severe penalties for violations. Schiff cites ethical concerns over Trump’s involvement with World Liberty Financial (WLF), which earned him $57 million in 2024. The bill has Democratic support but faces hurdles in a Republican-controlled Congress. Meanwhile, Trump’s stake in WLF has reportedly dropped from 75% to 40%, possibly to avoid scrutiny.
read moreSchiff Proposes COIN Act to Curb Presidential Crypto Exploitation
California Senator Adam Schiff and nine other Democratic lawmakers have introduced the COIN Act, aimed at preventing financial exploitation of digital assets by public officials, including the president. The legislation comes in response to President Donald Trump’s reported $57.4 million in income tied to the crypto platform World Liberty Financial (WLF), backed by his family. Schiff emphasized ethical and legal concerns over Trump’s crypto dealings, calling for stricter oversight to curb potential conflicts of interest. The bill mirrors similar efforts in the House by Maxine Waters, signaling growing legislative scrutiny of crypto-related activities by high-ranking officials.
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