Gillibrand pushes crypto ethics ban after Trump’s $1.4b memecoin disclosure

Share Link copied President Donald Trump’s crypto income disclosure has intensified Senate ethics demands as lawmakers debate the CLARITY Act. Summary Gillibrand wants lawmakers and their spouses barred from issuing or promoting crypto memecoins. Trump’s $1.

4 billion crypto income disclosure has intensified the Senate ethics debate. Ethics provisions remain a key sticking point in ongoing CLARITY Act negotiations. In a recent statement, Sen.

Kirsten Gillibrand reiterated her call for a ban on members of Congress and their spouses issuing or promoting crypto memecoins after President Trump disclosed about $1.4 billion in crypto-related income for 2025. 🚨CLARITY ACT FACES DELAY RISK AS SEN.

GILLIBRAND DEMANDS MEMECOIN BAN!Sen. Kirsten Gillibrand is renewing her push for ethics rules banning elected officials and their spouses from issuing or profiting from memecoins.

She has repeatedly said there will be no crypto market… pic.twitter.

com/32g9DmzYJq— Crypto Banter (@crypto_banter) July 3, 2026 Gillibrand had previously said at the Solana Accelerate conference in Miami that stronger ethics rules should be included before lawmakers move ahead with major crypto legislation. She had argued that public officials should not face conflicts of interest while voting on rules affecting the same industry tied to their private finances. Ethics clause becomes a key CLARITY Act demand Gillibrand said she remains hopeful that the CLARITY Act can move through the Senate Banking Committee in the next two weeks, but she added that Democrats want unresolved issues addressed before offering more support.

According to Gillibrand, current Senate talks include stablecoin yields, safeguards against illegal finance, and an ethics clause that would stop government officials from creating or promoting cryptocurrencies. You might also like: ESMA warns Polymarket over EU rules that could trigger retail ban The ethics debate has gained more attention because of Trump’s financial disclosure. Gillibrand said conflict-of-interest rules have become more important after the filing showed large crypto-related income tied to the president.

Democratic senators have argued that crypto market structure legislation should not move without enforceable limits on elected officials and their families profiting from assets they may influence through policy. Trump memecoin profits fuel conflict concerns Trump launched the TRUMP memecoin shortly before his second presidential inauguration, and the token quickly became one of the most watched political crypto launches. According to the financial disclosure referenced in the report, Trump recorded about $1.

4 billion in crypto-related income. The project reportedly generated hundreds of millions of dollars for entities linked to the Trump family, even as many retail buyers suffered losses after the memecoin dropped sharply from its peak. Trump has denied wrongdoing over the profits.

In comments to reporters, he said the gains were not illegal and argued that outside investment groups manage his holdings. He also linked his income to the stronger stock market, saying many investors benefited from rising asset prices. Still, lawmakers critical of his crypto ties have said the issue strengthens the case for ethics restrictions in the CLARITY Act.

The dispute has added another political obstacle to the bill, which is designed to create clearer rules for digital assets in the United States. While Gillibrand has supported progress on crypto legislation, her latest remarks show that Democrats want ethics language included before the Senate advances the measure. Read more: Standard Chartered wins MiCA passport as EU approves 57 firms Load More Best crypto platforms Jul 2026 Deep Dives Feature Read more - XRPL is quietly building institutional DeFi XRPL is quietly building institutional DeFi 6 hours ago Feature Read more - Is Ethereum losing the L1 race to Solana?

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