Gillibrand Proposes Ban on Public Officials Issuing Memecoins Amid CLARITY Act Talks

Senator Kirsten Gillibrand recently proposed restricting elected officials and their spouses from issuing or sponsoring digital assets, citing the memecoins issued by President Donald Trump and First Lady Melania Trump. "This is a commonsense requirement that should get broad bipartisan support," Gillibrand said, framing the ethics safeguard as necessary to prevent self-dealing and strengthen consumer protections.

The proposal has become central to Senate negotiations over the Digital Asset Market Clarity Act, a key market structure bill defining crypto token and exchange regulation. Gillibrand indicated lawmakers will not support the broader bill without addressing the risk that elected officials could profit from industries they help regulate, linking ethics safeguards to legislative progress on crypto policy.