news 
COIN Act Seeks to Ban Public Officials From Crypto Investments
In a bold move aimed at addressing the growing concerns around cryptocurrency exploitation by public officials, ten Democratic lawmakers have introduced the Curbing Officials’ Income and Nondisclosure (COIN) Act. This bill seeks to ban public officials from participating in crypto investments or sponsoring digital assets while in office.
The proposed legislation comes as a direct response to President Donald Trump’s reported $57.4 million income from World Liberty Financial (WLF), a stablecoin-focused venture launched by the Trump family in November. The development raises significant ethical, legal, and constitutional concerns over the use of the presidency for personal financial gain.
Senator Adam Schiff, who led the effort, stated that the bill aims to establish a more stringent code of ethics for public officials. “President Donald Trump’s cryptocurrency dealings have raised substantial moral and ethical issues regarding his exploitation of the office of the presidency to enrich himself and his family,” he emphasized.
The COIN Act extends its restrictions to include immediate family members of public officials, who will also be prohibited from issuing, promoting, or sponsoring digital assets during their tenure. The proposed legislation aims to plug potential loopholes in financial reporting and prevent roundabout monetary enrichment.
Critics have pointed out that Schiff’s sponsorship of the GENIUS Act, which exempts the president and vice president from similar restrictions, appears inconsistent with this new initiative. This inconsistency has sparked debate on social media platforms.
In a related development, Representative Maxine Waters accused Trump of using his position to further enrich himself through the $TRUMP meme coin scheme, labeling it as “pay-to-play” while criticizing the private gala held for investors.
The COIN Act seeks to establish a stronger financial transparency framework that prevents public officials from exploiting their office for personal gain.
Source: cryptotale.org
