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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.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2143
Sponsor: Sen. Schiff, Adam B. [D-CA]
Process start date: 2025-06-23
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

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.

CATEGORIES

Courts and Law Economy