Senate crypto bill would ban federal officials — including presidents — from issuing digital assets

CNBC · 2026-07-22

Senate crypto bill would ban federal officials from issuing digital assets Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Key Points Republicans released an updated Clarity Act, which includes ethics provisions for federal officials and bans on crypto being used for illicit transactions. Democrats say the Justice Department shouldn't be the regulator to enforce a ban on elected officials issuing crypto, with senators who supported an earlier version vowing to oppose the new one. Senators could vote on the bill in the next two weeks before leaving Washington for most of August. Presidents and other federal officials would be banned from issuing or sponsoring cryptocurrency and other digital assets under newly updated legislation the Senate is considering. Republicans on Wednesday re-released a measure — known as the Clarity Act, major legislation to govern the broader digital asset market. Sen. Cynthia Lummis, R-Wyo., the bill's lead sponsor, provided CNBC with its text, which now includes the first limits on how presidents may profit off of crypto. The legislation would tap the Department of Justice to enforce the ban. The agency could levy a fine of up to $250,000 per day for violators. President Donald Trump , signed off on the ethics section of the bill, Sen. Bernie Moreno, R-Ohio, one of the measure's supporters, told CNBC. Trump made about $1.2 billion in crypto-related income during his first year back in the White House, according to a recent disclosure. Trump's 2025 crypto proceeds include about $580 million connected with World Liberty Financial , the company co-founded by members of Trump's family that issues the WLFI governance token and USD1 stablecoin. World Liberty launched USD1 in March 2025 , after Trump began his nonconsecutive second term as president. The bill in its current form faces an uphill climb to get the 60 votes needed. Both Sens. Angela Alsobrooks, D-Md., and Ruben Gallego, D-Ariz. — the only two Democrats to vote for the bill in the agriculture committee — both said they oppose the version released Wednesday because the ethics provision is not strong enough. Both Alsobrooks and Gallego criticized proposals that would leave the DOJ in charge of enforcing ethics provisions. Alsobrooks on Wednesday slammed having the DOJ rather than state attorneys general leading the oversight. "Look at this Department of Justice," she told reporters Wednesday at the Capitol. "They're completely unserious, first of all, and it's just stone crazy to rely on them for anything. A lawless Department of Justice cannot oversee this. So, I think having the attorneys general as a backstop is going to be really important." The bill would also allow Trump to continue profiting from his crypto ventures and give him a year to put his ownership into a blind trust. "This is not a serious proposal," Gallego said. He said he and a group of Democrats and Republicans are planning to introduce their own ethics language soon. Lawmakers are short on time to make changes. Senate Majority Leader John Thune , R-S.D., said he expects the Senate will quickly consider the measure. "It'll get a vote, not sure when yet but in the next couple weeks," Thune told reporters Wednesday at the Capitol. Companies including Coinbase and Ripple have pressed for a national law to create a regulatory structure around crypto. The banking industry has opposed certain aspects of the crypto industry, including issuing rewards that it considers similar to interest earned on bank accounts. A group of banking groups, including the American Bankers Association and Financial Services Forum, on Wednesday after the updated crypto bill was released said the measure "still puts at risk the local lending that drives economic activity in the U.S." — Irit Skulnik and Karen James Sloan contributed to this report.

AI 시장 분석

A cryptocurrency bill has been introduced in the US Senate to ban federal officials, including the president, from issuing digital assets. This bill is being promoted as a measure to prevent conflicts of interest among public officials and increase transparency in the virtual asset market. Investors need to closely monitor the market's reaction to increasing regulatory uncertainty.

상승 영향

Bitcoin — As the issuance of private tokens with political risks is restricted, funds may concentrate on highly trusted major assets.

하락 영향

Virtual Assets — The introduction of federal-level regulatory bills may increase regulatory uncertainty across the virtual asset market and dampen short-term investor sentiment.

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