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Crypto Trading Ban for Officials and Their Families

This new law imposes strict restrictions on government officials and their immediate families regarding the trading and promotion of digital assets like cryptocurrencies. Its aim is to prevent the use of public office for personal financial gain. Citizens can expect greater transparency and integrity in the actions of public servants.
Key points
Officials and their families are prohibited from buying, selling, or endorsing cryptocurrencies and other digital assets during their term of service, 180 days before it begins, and 2 years after it ends.
Violations can lead to significant financial penalties and even imprisonment, depending on the scale of the breach and the financial benefits obtained.
The act requires officials to disclose digital assets, including cryptocurrencies, with a fair market value exceeding $1,000.
Companies issuing stablecoins must certify that public officials do not financially benefit from their issuance.
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Status: Introduced
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Additional Information
Print number: 119_S_2143
Sponsor: Sen. Schiff, Adam B. [D-CA]
Process start date: 2025-06-23
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Curbing Officials' Income and Nondisclosure (COIN) Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2143.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-06-23.

What are the main provisions?

Key points include:

  • Officials and their families are prohibited from buying, selling, or endorsing cryptocurrencies and other digital assets during their term of service, 180 days before it begins, and 2 years after it ends.
  • Violations can lead to significant financial penalties and even imprisonment, depending on the scale of the breach and the financial benefits obtained.
  • The act requires officials to disclose digital assets, including cryptocurrencies, with a fair market value exceeding $1,000.
  • Companies issuing stablecoins must certify that public officials do not financially benefit from their issuance.
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 Sen. Schiff, Adam B. [D-CA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Courts and Law Economy