Sponsors (11)
This bill tightens ethics, disclosure, and enforcement around public officials' ties to digital assets—improving transparency and reducing corruption risk—while imposing new legal, privacy, and compliance costs on officials and industry that could chill some legitimate interactions and raise operational burdens.
Taxpayers and investors: the bill makes it harder for federal officials to promote or personally profit from digital-asset products, reducing corruption risk and potential taxpayer exposure to conflicted deals.
Federal employees and the public: requires disclosure of high-value digital-asset holdings and public posting of issuer certifications, increasing transparency about officials' crypto exposures and potential conflicts of interest.
Investors and market participants: expands what counts as a "financial interest" and strengthens enforcement tools (including insider-trading-related provisions) to deter market manipulation and restore market integrity in digital-asset markets.
Federal employees: the bill can create new criminal (felony) and civil liability for officials whose interactions with digital assets are deemed improper, raising legal risk for current and former public servants.
Financial firms and stablecoin issuers: the bill imposes compliance, certification, and recertification requirements (with risk of losing approval for missed recertifications), increasing operational costs and the potential for business disruption.
Federal employees and some private-sector contacts: requiring public disclosure or posting of crypto holdings and certification details could expose sensitive wallet or business information, risking privacy and personal security.
Based on analysis of 6 sections of legislative text.
Prohibits covered public officials from issuing or profiting from certain digital-asset financial products, expands digital-asset disclosure rules, and requires stablecoin issuers to certify no conflicts.
Introduced June 23, 2025 by Adam Schiff · Last progress June 23, 2025
Creates new criminal rules and disclosure requirements to stop federal officials from creating, endorsing, or profiting from a range of digital-asset financial products (cryptocurrencies, tokens, NFTs sold for remuneration, payment stablecoins, and related instruments). It requires executive-branch filers to disclose specified digital assets above a $1,000 threshold, forces approved payment-stablecoin issuers to certify that covered public officials have no conflicting financial interests, and directs GAO to recommend updates to federal ethics laws to reflect digital-asset regulation. The bill makes certain violations criminal (including an insider-trading-style offense with penalties up to 15 years and potential disqualification from federal office), mandates public posting of stablecoin conflict certifications, and creates reporting and certification duties for stablecoin issuers and federal regulators. It also adds a new statutory chapter addressing prohibited financial transactions involving covered officials.