After Trump Coin Controversy, Lawmakers Push to Ban Political Crypto Endorsements

A group of Democratic senators has unveiled a new bill aimed at blocking public officials from launching or promoting cryptocurrencies — a move that appears closely tied to growing concerns over President Trump’s ties to token projects. The “End Crypto Corruption Act of 2025,” introduced on May 7, would ban current and former top-ranking federal officials — including the President, Vice President, members of Congress, Cabinet appointees, and certain executive staff — from issuing or endorsing digital assets. The restrictions would also extend to spouses and dependent children, lasting through their term and one year after. Although the legislation permits standard asset sales, it includes penalties for any promotional activity and is designed to prevent abuse of public office for personal crypto profits. The proposal follows controversy over Trump-themed memecoins and a White House dinner invitation extended to top holders of one such token, raising alarms about potential self-dealing. Senator Elissa Slotkin, one of the bill’s co-sponsors, said the aim is to draw a line between political power and private gain. “The president isn’t just embracing crypto — he’s monetizing it,” she said. Also caught in the spotlight is Elon Musk, who serves in a federal advisory role under the Department of Government Efficiency (DOGE). Musk recently clarified that his office has no affiliation with the memecoin of the same name and will not utilize it in any formal capacity. The bill surfaces amid a larger partisan standoff over crypto regulation, particularly around stablecoin policy. Democrats have expressed frustration over GOP resistance to provisions related to anti-money laundering and foreign oversight. Recent reports suggesting a potential $2 billion deal involving a Trump-associated stablecoin and a foreign investment firm have only deepened concerns. While it remains unclear how certain relationships — such as Trump’s role at World Liberty Financial — would be handled under the bill, lawmakers backing the measure say it’s a necessary step to keep public office from becoming a launchpad for private token schemes. Reporter at Coindoo Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets. Related stories Next article !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,document,'script','https://connect.facebook.net/en_US/fbevents.js');fbq('init','1188189499475368');fbq('track','PageView'); Source: https://coindoo.com/after-trump-coin-controversy-lawmakers-push-to-ban-political-crypto-endorsements/