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Recently, the question of how ethical it is for high-ranking officials to profit from transactions with cryptocurrencies has been actively discussed in American political circles. The controversy erupted after Senate Democratic leader Chuck Schumer introduced a new bill. The document provides for the creation of a special federal agency that will investigate corruption among the president, his administration and other senior officials. Particular attention is paid to revenues from digital currencies, since this area is considered the least transparent and most prone to abuse.

According to Schumer, the new agency will be endowed with broad powers, including conducting inspections, calling witnesses and confiscating illegally acquired property. It will be led by a seven-member council approved by the Senate. Schumer emphasizes that the structure must be completely independent of the executive branch to avoid pressure from the president. In addition, the bill proposes to give individuals and state prosecutors the right to file lawsuits against officials and corporations if there is reason to believe that their enrichment was due to corruption schemes. This will make it possible not only to check the actions of officials, but also to return assets obtained in circumvention of the law.

The main target of this initiative, as you might guess, was the financial affairs of the family of the current president. Schumer cites data according to which Donald Trump's income from crypto projects after his return to the presidency in 2025 exceeded $1.4 billion, and his loved ones earned more than $4 billion. Among the assets mentioned are the World Liberty Financial lending platform with its WLFI token, as well as the memcoins TRUMP and MELANIA, which, apparently, were created to monetize the presidential brand. White House officials, however, categorically deny the existence of a conflict of interest, saying that all transactions complied with the law and did not influence political decisions.

However, the controversy surrounding Trump's crypto business has already had an impact on the legislative process. It was because of him that Congress stalled the consideration of the CLARITY bill, which was supposed to streamline the regulation of digital assets. Democrats, led by Schumer, are pushing for amendments that would prohibit the president, members of Congress, government employees and their relatives from profiting from cryptocurrency transactions while in office. While this appears to be a step towards transparency, Republicans see it as political pressure aimed at the sitting president.