In Response to Trump’s Blatant Meme Coin and Stablecoin Corruption, Rep. Ritchie Torres Introduces Bill to Stop Presidential Profiteering From Crypto

<p>Today, Congressman&nbsp;<strong>Ritchie Torres</strong>&nbsp;(NY-15) introduced the &#8220;<strong>Stop Presidential Profiteering from Digital Assets Act</strong>” into the U.S. House of Representatives.</p>

<p>The legislation:</p>

<ul class="wp-block-list">
<li>Prohibits the issuance, marketing, or sale of digital assets using the name, image, likeness, or identifiable traits of federal officials, including the President, Vice President, Members of Congress, Senate-confirmed officials, and their immediate family members when such activity results in financial gain.</li>

<li>Establishes exclusive enforcement authority within the Securities and Exchange Commission (SEC), including the power to impose civil penalties of up to $250,000 per violation or the full amount of profits obtained, whichever is greater.</li>

<li>Requires the SEC to issue implementing regulations within 180 days of the bill’s enactment.</li>

<li>Includes a critical clause that rejects consent as a defense, meaning that even if a public official voluntarily endorses a digital asset project involving their image, it remains a violation if profit is derived.</li>
</ul>

<p>The bill specifies (full PDF attached <a href="https://d12t4t5x3vyizu.cloudfront.net/ritchietorres.house.gov/uploads/2025/05/DHS-IG-Letter-1.pdf">here</a>):</p>

<p>“For the purposes of this Act:</p>

<p>(1) Digital asset means a digital representation of value that is recorded on a cryptographically secured distributed ledger or any similar technology, including but not limited to, cryptocurrencies, stablecoins, and meme coins.</p>

<p>(2) Covered individual means:</p>

<p>(A) The President or Vice President of the United States;</p>

<p>(B) Members of Congress;</p>

<p>(C) Any federal officer or official confirmed by the Senate;</p>

<p>(D) Any immediate family member of such individuals.</p>

<p>(3) Immediate family member includes a spouse, child, or other relative residing in the same household.</p>

<p>(4) Identifiable traits include name, image, likeness, signature, slogans, or other personally distinguishing characteristics.”</p>
<p>The post <a href="https://ritchietorres.house.gov/posts/in-response-to-trumps-blatant-meme-coin-and-stablecoin-corruption-rep-ritchie-torres-introduces-bill-to-stop-presidential-profiteering-from-crypto">In Response to Trump’s Blatant Meme Coin and Stablecoin Corruption, Rep. Ritchie Torres Introduces Bill to Stop Presidential Profiteering From Crypto</a> appeared first on <a href="https://ritchietorres.house.gov">Torres</a>.</p>