Senators Kim Joins Senate Democratic Colleagues on Anti-Corruption Bill to Prevent Financial Exploitation of Digital Assets by Public Officials

WASHINGTON D.C.– Today,Senator Andy Kim (D-NJ)joinedSenator Adam Schiff (D-CA)and eight Democratic Senators in introducing theCurbing Officials’ Income and Nondisclosure (COIN) Actto enact commonsense guardrails to prevent the financial exploitation of digital assets by public officials, including the president and their immediate family.
This legislation follows recent White House financial disclosure reporting revealing that President Trump raked in $57.3 million from his crypto venture with World Liberty Financial in 2024.
“Americans deserve to have full faith in their public officials. From meme coins to NFTs, we need to set the necessary guardrails to root out corruption, stop those in power from exploiting digital assets, and rebuild this sacred trust between government and the American people,”said Senator Andy Kim.
“President Donald Trump’s cryptocurrency dealings have raised significant ethical, legal and constitutional concerns over his use of the office of the presidency to enrich himself and his family. That’s why I am introducing legislation to prevent the financial exploitation of any digital assets by public officials, including the president and the First Family. We need far greater scrutiny of the president’s financial dealings, and to stop him and any other politician from profiting off of such schemes,”said Senator Adam Schiff.
TheCOIN Actincludes critical reforms to safeguard against public officials exploiting digital assets for their own personal profits.
Specifically, this legislation seeks to:
Full text of the bill is availablehere.
This legislation is also cosponsored by U.S. Senators Lisa Blunt Rochester (D-Del.), Catherine Cortez Masto (D-Nev.), Ruben Gallego (D-Ariz.), Kirsten Gillibrand (D-N.Y.), Ben Ray Luján (D-N.M.), Elissa Slotkin (D-Mich.), Richard Blumenthal (D-Conn.) and Angela Alsobrooks (D-Md.).
The bill is endorsed by Public Citizen, the Project on Government Oversight, Citizens for Responsibility and Ethics in Washington (CREW), and Democracy Defenders Action.
Senator Kim has prioritized work to combat corruption in government and politics since coming to Congress, including campaign finance reform, restoring the full strength of the Voting Rights Act, and through introducing legislation as a member of the House to ban senior officials across the three branches of federal government from trading individual stocks. Before being elected to the U.S. Senate, Kim represented New Jersey’s Third Congressional District in the U.S. House and was a career public servant working in national security and diplomacy at the White House, State Department, and Pentagon. Learn more about Senator Kim’s service on behalf of New Jerseyhere.

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