U.S. Lawmakers Introduce the End Crypto Corruption Act
Senate Democrats Challenge President Trump's Cryptocurrency Initiatives, Argue for Anti-Fraud Measures and National Security Concerns
Senators Jeff Merkley (D-OR) and Chuck Schumer (D-NY), along with additional Democratic colleagues, have presented a new bill known as the End Crypto Corruption Act of 2025. This legislation aims to hinder financial corruption in the cryptocurrency sector among the U.S.'s top officials [1][3].
The bill applies to the President, Vice President, senior officials within the Executive Branch, members of Congress, and their immediate family members. It disallows them from issuing, endorsing, or sponsoring crypto assets, including memecoins and stablecoins. By implementing this ban, the bill aims to eliminate conflicts of interest and financial gains generated through cryptocurrency [1][3].
This legislative action stems from concerns about significant crypto wealth amassed by political figures. Former President Donald Trump is a notable example, as his crypto assets account for nearly 40% of his net worth and have grown by approximately $2.9 billion due to his crypto investments such as his TRUMP and MELANIA meme coins, as well as holdings in crypto-related ventures like World Liberty Financial [1][2].
The bill's supporters argue that allowing these financial ties poses a threat to national security, undermines trust in government, and fosters a corrupted environment where personal financial gains are made through political influence in the fast-growing digital currency sector [2][3].
The bill is supported by a large number of Senators, including Elizabeth Warren, Mazie K. Hirono, Kirsten Gillibrand, and Bernie Sanders, as well as advocacy organizations such as Public Citizen and Democracy State Defenders [1]. This initiative is part of broader efforts to hold elected officials liable, by preventing them from reaping financial benefits from assets related to their official roles, in an attempt to revive public faith and combat corruption within the crypto industry [1][3].
Sources
- [1] Daily Hodl, May 8, 2025, Regulators, Retrieved on May 21, 2025
- [2] NBC News, May 8, 2025, Chuck Schumer, Retrieved on May 21, 2025
- [3] Public Citizen, May 8, 2025, End Crypto Corruption Act of 2025, Retrieved on May 21, 2025
- The End Crypto Corruption Act of 2025, introduced by Senators Jeff Merkley and Chuck Schumer, aims to restrict crypto trading activities among top U.S. officials, including the sale of altcoins like Trump's meme coins.
- This new legislation in finance is supported by a large number of Senators, including Elizabeth Warren and Bernie Sanders, and aims to eliminate conflicts of interest and financial gains generated from cryptocurrency, particularly in the fast-growing blockchain sector.
- Opponents argue that allowing political figures to engage in crypto trading creates a potential threat to national security and undermines trust in government, as demonstrated by the case of former President Donald Trump.
- The bill proposes to address this issue by preventing officials from issuing, endorsing, or sponsoring cryptocurrencies like stablecoins, a move aimed at reviving public faith and combating corruption within the crypto industry.
