Schiff Targets Trump’s Crypto Activity with COIN Act Proposal

Senator Adam Schiff has introduced the Curbing Officials’ Income and Nondisclosure (COIN) Act, a legislative measure aimed at restricting U.S. presidents and top officials from engaging in cryptocurrency activities. The bill specifically prohibits the issuance, sponsorship, or endorsement of digital assets, including stablecoins, NFTs, and memecoins, during their tenure and for 180 days before and two years after leaving office.

The proposal mandates public disclosure of digital asset sales exceeding $1,000 and imposes severe penalties, including potential prison time, for violations. Schiff framed the bill as a response to ethical and legal concerns surrounding former President Donald Trump’s crypto dealings, particularly his ties to World Liberty Financial (WLF), which reportedly earned him over $57 million in 2024.

Nine other Senate Democrats have backed the bill, reigniting debates over consistency in legislative priorities, as some supporters previously endorsed the GENIUS Act. The MOVE underscores growing scrutiny of cryptocurrency’s role in political finance.