On July 31, Senate Minority Leader Chuck Schumer introduced a bill addressing President Donald Trump’s disclosed crypto-related income, which surpasses $1.4 billion for 2025.
The proposed legislation aims to overhaul federal ethics enforcement by merging the Federal Election Commission, Office of Government Ethics, and Office of Special Counsel into one Anti-Corruption Bureau. This new entity would have enhanced subpoena and enforcement powers, making it more difficult to weaken oversight quietly.
Trump’s financial disclosures show $635.1 million in royalties from Celebration Coins alone, with hundreds of millions more linked to World Liberty Financial and $196.9 million tied to a stablecoin holding firm. This crypto income exceeds revenue from Trump’s resorts and real estate for the same year.
While the bill does not imply illegal activity by the president, Schumer and co-sponsors Andy Kim, Alex Padilla, and Jeff Merkley argue current agencies aren’t equipped to handle such complex financial entanglements.
The White House responded by stating Trump’s investments are managed independently by third-party financial institutions, denying any conflicts of interest.
As the bill stood on July 31, it had four Democratic sponsors and no Republican cosponsors, with no Senate bill number assigned yet. The move reflects growing concern over crypto’s role in political finance and executive transparency.
This article is informational and does not constitute financial advice.
