Senator Adam Schiff (D-CA) has introduced the COIN Act, which aims to bar President Trump, Vice President, and their families from engaging in any cryptocurrency business while in office. The legislation proposes civil fines and potential prison time for violations. Interestingly, just a week prior, Schiff supported the GENIUS Act, which established a stablecoin framework but exempted the president and vice president from its restrictions. This contradiction has drawn criticism from social media commentators questioning the sincerity of Schiff's motives. Schiff claims that Trump’s crypto dealings raise ethical and legal concerns, pushing for greater scrutiny of his financial activities. Despite several legislative attempts to restrain Trump's crypto ventures, including other proposed bills like the MEME Act and the Stop TRUMP in Crypto Act, there is skepticism regarding their chances of passing given the current Republican majority in Congress. This ongoing situation highlights the complexities and challenges surrounding presidential involvement in the rapidly evolving cryptocurrency landscape.

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