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This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Senator Adam Schiff has introduced the COIN Act to prevent U.S. presidents and top officials from profiting off digital assets. The bill directly targets Donald Trump’s crypto dealings, including his ties to the USD1 stablecoin. Violators could face prison time and hefty penalties.
- The COIN Act bans top U.S. officials from crypto endorsements during and after office, with a 180-day pre-term and 2-year post-term buffer.
- Violators face prison time and must disclose digital asset sales exceeding $1,000.
- Trump’s ties to WLF and the USD1 stablecoin earned him $57M in 2024, sparking ethical concerns.
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