Senators Introduce Bill to Ban Crypto Profits for Top Officials
1min read Democratic senators in the United States have introduced new legislation aimed at preventing cryptocurrency-related corruption among top officials. The End Crypto Corruption Act of 2025, led by Jeff Merkley (D-Ore.) and Senate Democratic leader Chuck Schumer (D-NY), seeks to prohibit the president, vice president, senior executive branch officials, members of Congress, individuals appointed by the Senate, and their immediate family from profiting from issuing, endorsing, and sponsoring crypto assets, including memecoins and stablecoins.
The legislation includes a provision that imposes a civil monetary penalty on any covered individual who knowingly violates the act. The penalty would be equal to not more than 10% of the value of the financial interest that is the subject of the prohibited conduct, or the amount of financial gain, if any, that the covered individual benefited from relating to the prohibited conduct, whichever is greater.
This move comes in response to concerns about potential conflicts of interest arising from President Donald Trump’s involvement in cryptocurrency ventures. Merkley, who sponsored the bill, argues that individuals seeking to influence the president could enrich him by purchasing the crypto he owns or controls. He describes this setup as a corrupt scheme that poses risks to national security and erodes public trust in the government.
Schumer echoed these sentiments, stating that the legislation is necessary to prevent Trump from putting consumers and national security at risk. He emphasized that the democracy should not be for sale, and that Trump’s attempts at grift and corruption are well known and well documented. Schumer highlighted that individuals can curry favor with the White House and make money for Trump by purchasing his digital assets, which undermines the integrity of the government.
