U.S. Senator Kirsten Gillibrand is demanding an enforceable ban on presidential cryptocurrency profits as a condition for her vote on digital asset market structure legislation. The renewed legislative push follows a Reuters/Ipsos poll indicating that 63% of Americans view crypto profits amassed by Donald Trump and his family as inappropriate.
Gillibrand, a New York Democrat, has previously co-authored bipartisan crypto legislation and supports regulated digital asset markets, consumer protections, and anti-money laundering requirements. However, she argues that any market structure bill must directly address potential conflicts of interest for elected officials.
"We can pass smart, clear rules for digital assets and shut down presidential self-dealing at the same time," Gillibrand stated. "There must be an enforceable ban, and any market structure bill that leaves enforcement solely in the hands of the president’s own Justice Department and allows him to profit from crypto isn’t a reform. It’s a permission slip."
The ethics debate intensified following a certified annual disclosure released by the U.S. Office of Government Ethics on June 30, which detailed extensive Trump-linked crypto income exceeding $1.4 billion for 2025, largely derived from World Liberty Financial and a Trump meme coin. The White House has dismissed impropriety allegations, stating that independent financial institutions manage his investments and that Trump maintains no day-to-day role in his family business.
The controversy has become a central point of contention in the Senate regarding the Digital Asset Market Clarity Act, which faces its first Senate floor test on September 15. The legislation requires 60 votes to advance past a cloture motion, with supporters needing additional support from Democratic or independent senators alongside the Republican caucus. Democratic lawmakers have raised concerns regarding ethics enforcement, consumer protection, and potential illicit-finance loopholes within the current proposal.
