Alsobrooks joins colleagues in introducing new legislation to end crypto corruption by Trump & other elected officials
May 7, 2025
WASHINGTON, DC – Senator Angela Alsobrooks (D-Md.) has joined Senator Jeff Merkley (D-Ore.) and Senate Democratic Leader Chuck Schumer (D-N.Y.) in introducing a brand-new effort to crack down on cryptocurrency-related corruption by elected officials at the highest levels of the federal government.
“It is critical that Congress passes crypto legislation that provides a regulatory framework, spurs innovation, and keeps that innovation in America,” said Senator Alsobrooks. “I am continuing to work on a bipartisan basis with my co-leads Senators Hagerty, Scott, Lummis, and Gillibrand on doing exactly that. This emerging market needs to remain fair and competitive for every American. That’s why, I’m proud to introduce this resolution alongside Senator Merkley and Leader Schumer. It’s as preposterous as it is so woefully predictable that this President is trying to erect yet another scam to sell influence and enrich himself. We know it’s wrong. We need to make it illegal.”
The End Crypto Corruption Act bans the President, Vice President, Senior Executive Branch Officials, Members of Congress, and their immediate families from financially benefiting from issuing, endorsing, or sponsoring crypto assets, such as meme coins and stablecoins. As story after story trickles out about President Trump’s crypto deals and his mounting conflicts of interest, the End Crypto Corruption Act directly addresses and curbs the Trump Administration’s apparent corruption.
“Currently, people who wish to cultivate influence with the president can enrich him personally by buying cryptocurrency he owns or controls,” said Senator Merkley. “This is a profoundly corrupt scheme. It endangers our national security and erodes public trust in government. Let’s end this corruption immediately.”
“Donald Trump’s attempts at grift and corruption are well known and well documented. And right now individuals can curry favor with this White House and make money for Trump by purchasing his digital assets. Senate Democrats aren’t going to stand by and let Donald Trump put our national security and consumers at risk so he can make money off the Office of the Presidency. Our democracy shouldn’t be for sale,” said Leader Schumer.
The End Crypto Corruption Act is cosponsored by Ranking Member Warren and U.S. Senators Mazie K. Hirono (D-Hawaii), Chris Van Hollen (D-Md.), Kirsten Gillibrand (D-N.Y.), Jack Reed (D-R.I.), Catherine Cortez Masto (D-Nev.), Bernie Sanders (I-Vt.), Andy Kim (D-N.J.), Cory Booker (D-N.J.), Edward J. Markey (D-Mass.), Tammy Duckworth (D-Ill.), Elissa Slotkin (D-Mich.), Mark Kelly (D-Ariz.), Lisa Blunt Rochester (D-Del), Ron Wyden (D-Ore.), and Richard Blumenthal (D-Conn.).
Full text of the End Crypto Corruption Act can be found by clicking here.
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