A Senate crypto bill would impose a ban on crypto activity covering federal officials, including presidents, as Democratic lawmakers push to tighten conflict-of-interest rules around digital assets in Washington.
What the Senate crypto bill would ban
Senators Jeff Merkley and Chuck Schumer are leading an effort to restrict elected officials from profiting off crypto, framed as a measure to end crypto corruption by Trump and other elected officials. For related coverage, see U.S. Seeks Forfeiture of $25M in Crypto Tied to Scams.
The proposal is notable because its coverage extends to the president, placing the highest office in the executive branch within the scope of the restriction rather than exempting it. For related coverage, see Crypto Bridge Hit by $11 Million Hack: What Happened and Why It Matters.
Separately, Senator Kirsten Gillibrand has called to ban Trump and elected officials from issuing memecoins, signaling that the concern spans specific digital-asset conduct by officeholders.
Why lawmakers are pushing stricter crypto conflict rules
The measures are built around conflict-of-interest concerns: the worry that officials who hold or issue digital assets could shape policy affecting the value of those same assets.
By naming top executive officials, the sponsors are pressing for a high ethics standard, drawing a line between simply owning crypto and being in a position to influence the rules that govern it.
The push reflects a wider split among lawmakers over how public officials should handle digital-asset exposure, a divide that Axios reported as an active fault line among Senate Democrats.
What the proposal could mean for Washington and crypto policy
A Senate-led bill signals that crypto oversight remains active in Washington, adding to a growing docket that includes competing crypto tax bill proposals from US lawmakers.
Extending the ban to presidents raises the political stakes, turning what could have been a narrow ethics measure into a direct test of how far Congress is willing to constrain the executive branch on digital assets.
How the industry and policy watchers respond may influence the framing of future legislation, at a moment when crypto-aligned lobbying groups are organizing for the 2026 election and state-level scrutiny is intensifying, as seen in recent Texas Senate crypto charges.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.