Senator Adam Schiff, along with nine other Democratic lawmakers, has introduced the Curbing Officials’ Income and Nondisclosure (COIN) Act aimed at preventing financial exploitation of digital assets by public officials, specifically addressing US President Donald Trump's connections to the cryptocurrency industry. This legislation was prompted by concerns over Trump’s cryptocurrency dealings and the potential ethical implications of his family's financial interests tied to World Liberty Financial (WLF). The COIN Act seeks to prohibit public officials from endorsing or investing in cryptocurrencies during and post their tenure in office. Another legislative effort, the Stop Trading, Retention, and Unfair Market Payoffs (TRUMP) in Crypto Act, was introduced in the House by Maxine Waters to stop Trump's memecoin dealings. However, both bills face uncertainty regarding their support in Congress and may be challenged by a presidential veto if they pass in both chambers.

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