- Main event, Schiff introduces COIN Act targeting crypto activities.
- Restricts officials’ crypto promotions and endorsements.
- Addressed ethical concerns around USD1 stablecoin.
Senator Schiff’s introduction of the COIN Act marks a significant effort to address ethical issues raised by officials’ involvement in cryptocurrency, notably the USD1 stablecoin associated with Donald Trump.
The COIN Act, led by Senator Adam Schiff, seeks to bar presidential families from engaging in crypto promotions. Introduced in June 2025, the bill reacts to concerns over Donald Trump’s USD1 stablecoin. This legislation is co-sponsored by nine Democratic senators and targets officials’ involvement in crypto activities. Schiff framed the COIN Act as necessary for addressing “ethical and legal puzzles.”
Immediate impacts include heightened scrutiny on officials’ crypto-related ventures, notably affecting Trump’s USD1 stablecoin. The COIN Act mandates public disclosure of crypto sales exceeding $1,000 and enforces penalties for significant violations. Regulatory implications of this act may set precedents for broader governmental oversight on crypto endorsements and promotions by public figures. As Schiff stated,
“Our aim is to ensure that accountability and transparency are at the forefront of public service.”
The COIN Act could influence future regulations and increase transparency in officials’ crypto dealings. The decision aims to mitigate ethical concerns and potential legal issues associated with digital asset promotions by those in power. The initiative reflects mounting governmental interest in regulated crypto interactions among prominent figures.
