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Ban on Using Officials' Likeness for Digital Asset Profit

This new law aims to protect citizens from digital asset scams that exploit the likeness of the President, Vice President, Members of Congress, or their families. It means that creating or selling cryptocurrencies or other digital assets that profit from using their names or images will be prohibited, enhancing citizens' financial security.
Key points
Prohibits the creation and sale of digital assets (e.g., cryptocurrencies) that use the likeness or name of high-ranking government officials and their families for financial gain.
Even with an official's consent, such actions will be illegal, and violations can result in high financial penalties of up to $250,000 or forfeiture of profits.
The Securities and Exchange Commission (SEC) will be responsible for enforcing these regulations, aiming to ensure greater transparency and security in the digital asset market.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_3314
Sponsor: Rep. Torres, Ritchie [D-NY-15]
Process start date: 2025-05-08
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Stop Presidential Profiteering from Digital Assets Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_3314.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-05-08.

What are the main provisions?

Key points include:

  • Prohibits the creation and sale of digital assets (e.g., cryptocurrencies) that use the likeness or name of high-ranking government officials and their families for financial gain.
  • Even with an official's consent, such actions will be illegal, and violations can result in high financial penalties of up to $250,000 or forfeiture of profits.
  • The Securities and Exchange Commission (SEC) will be responsible for enforcing these regulations, aiming to ensure greater transparency and security in the digital asset market.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Torres, Ritchie [D-NY-15].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Courts and Law Economy