Trump Faces Scrutiny as COIN Act Targets Crypto Conflicts

• Legislators are becoming increasingly worried about Trump’s ties to the cryptocurrency industry and the possibility of a conflict of interest.
• On Monday, Senator Adam Schiff of California presented the COIN Act, which aims to curb officials’ income and nondisclosure.

The president of the United States, Donald Trump, avoided answering a reporter’s question on whether he would sell his family’s crypto ventures in order to advance important crypto legislation. Instead, he just said that the US will lag behind China and other countries without crypto.

Legislators are becoming increasingly worried about Trump’s ties to the cryptocurrency industry and the possibility of a conflict of interest. This worries them because they are trying to implement comprehensive regulations for the industry, a goal that has been gaining bipartisan support since 2024. Without Democratic amendments aiming to restrict the engagement of the US president in the cryptocurrency business, the GENIUS Stablecoin bill was approved by the Senate on June 17 with a vote of 68-30.

On Monday, Senator Adam Schiff of California presented the COIN Act, which aims to curb officials’ income and nondisclosure. No member of the president’s family or any executive branch official would be able to issue or endorse a digital asset under this measure.

The COIN Act was introduced after the White House disclosed in its most recent financial disclosure report that President Trump made $57.3 million in 2024 from his cryptocurrency venture with World Liberty Financial. Sen. Schiff and his colleagues have been moved to act by the substantial ethical, legal, and constitutional problems that this revelation has brought to light.

Speaking on the ongoing debate, Lingling Jiang, Partner of Falcon Finance shed light on the regulatory normalization across the sector.

Lingling Jiang stated:

“Proposals like the COIN Act reflect how far crypto has moved into the policy mainstream. As digital assets become more integrated into financial and governance systems, clear ethical boundaries for public officials are necessary. This is part of the broader shift toward regulatory normalization across the sector.”

Numerous advocacy organizations have voiced their support for the COIN Act, including Public Citizen, Democracy Defenders Action, CREW, the Project on Government Oversight, and the Project on Government Oversight. These groups think the bill will help restore faith in government and is reasonable in its goal of stopping public officials from enriching themselves via the use of digital assets.

By requiring government officials to put the needs of the people of the United States ahead of their own financial benefit, the COIN Act is a giant leap forward in creating ethical standards for the digital asset market. All Americans stand to gain from the legislation’s goal of increasing openness, accountability, and justice in the digital asset market by making it illegal for high-ranking authorities to participate in cryptocurrency operations.