U.S. Senator Elizabeth Warren, a member of the Senate Banking Committee, called for the inclusion of a ban on crypto industry earnings for the president, vice president, administration officials, members of Congress, and their families in the CLARITY Act.
The move was prompted by Donald Trump’s annual financial disclosure. The Office of Government Ethics released it on June 30.
According to the document, Trump’s total income for 2025 was approximately $2.2 billion, with over $1.4 billion coming from digital assets.
Nearly $800 million was linked to the crypto project World Liberty Financial, affiliated with the Trump family. More than $520 million of this amount came from token sales, while over $250 million was from business stake sales.
The declaration also listed royalties exceeding $635 million from a licensing agreement with Celebration Coins through CIC Digital LLC. The company is described in the document as associated with NFTs and meme coins.
“The cryptocurrency bill to be considered by the Senate must prevent high-ranking officials from profiting from the crypto industry. Otherwise, it will only accelerate Donald Trump’s blatant corruption in the crypto sphere,” Warren stated.
On May 4, the Senate Banking Committee approved the bill by a majority vote of 15 to 9, but discussions are ongoing. Ethical restrictions remain a key issue. The date for the Senate vote on the cryptocurrency market structure bill has not yet been set.
The White House administration denied any conflict of interest. Press Secretary Anna Kelly stated that neither the president nor his family members have engaged in or intend to engage in conflicts of interest. As noted by Trump in a conversation with journalists, he does not manage his personal finances, and his assets are managed by trusts.
In April, it was revealed that the mining company American Bitcoin enriched Eric Trump, while retail investors lost about $500 million.
