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This summary text is fully AI-generated and may therefore contain errors or be incomplete.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.
US Senator Adam Schiff has introduced the COIN Act to prevent public officials, including former President Trump, from profiting off crypto. The bill aims to enforce stricter financial disclosures and ban digital asset endorsements by politicians and their families.
- The COIN Act bans public officials from crypto endorsements and requires financial disclosures for digital assets.
- Trump earned $57.3M from DeFi platform WLFI, but his memecoin income wasn’t disclosed in ethics filings.
- Critics argue political coins like Trump’s 'Official Trump' could facilitate bribery and unethical profiteering.
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