Senator Gillibrand Seeks to Ban Trump, Elected Officials From Launching Meme Coins
Kirsten Gillibrand is renewing a push to ban politicians and their spouses from issuing or promoting digital assets, including meme coins, after disclosures that Donald Trump made more than $1.2 billion from crypto last year. The proposal would bar public officials and spouses from profiting from tokens they create or endorse, which she says would reduce self-dealing and strengthen ethics rules. Gillibrand, a relatively pro-crypto Democrat, has also backed restrictions on congressional stock trading and prediction markets because of insider-trading concerns. She says any crypto market-structure bill should include ethics safeguards covering Trump and other officials. The broader Clarity Act still lacks those guardrails, and its chances of passing this year have weakened.
