Bennet Introduces Legislation to Prevent Elected Officials and Candidates From Corruptly Profiting From Crypto

May 19, 2025|Press Releases
Washington, D.C.— Colorado U.S. Senator Michael Bennet, member of the Senate Committee on Rules and Administration with oversight of campaign finance laws, introduced the Stop Trading Assets Benefiting Lawmakers’ Earnings while Governing Exotic and Novel Investments for the United States (STABLE GENIUS) Act to prevent elected officials and federal candidates from issuing or endorsing digital assets, while also preventing officials from making legislative or policy decisions influenced by the digital assets they hold.
“Cryptocurrency is a new financial technology, and opens the door to novel forms of corruption and abuse,”said Bennet. “This legislation restores Americans’ trust in our political institutions and our financial system by ensuring that no federal candidate or official can profit from their position of power.”
The STABLE GENIUS Act would:
Bennet is a leading advocate for restoring trust in our elections and government. In 2018, heintroducedthe Curtailing Lobbyists and Empowering Americans for a New (CLEAN) Politics Act of 2018, a bill to curb pay-to-play politics and limit the undue access and influence of lobbyists in Washington. In 2019, heintroduceda constitutional amendment to reverseCitizens Unitedby restoring authority to Congress, states, and the American people to regulate campaign finance. In 2021, hereintroducedthe ZOMBIE Act to require politicians no longer running for office to close their old campaign accounts. In 2023, Bennetreintroducedthe Close the Revolving Door Act to ban members of Congress from ever becoming lobbyists, increasing transparency and accountability in Washington and shutting the revolving door of influence in Washington.
This legislation is supported by Citizens for Responsibility and Ethics in Washington and Accountable.US/Accountable.NOW.
The text of the legislation is availableHERE.
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