We have received text from S. 2143: Curbing Officials' Income and Nondisclosure (COIN) Act. This bill was received on 2025-06-23, and currently has 10 cosponsors.
Here is a short summary of the bill:
This bill, titled the Curbing Officials' Income and Nondisclosure (COIN) Act, seeks to amend existing laws to prevent financial exploitation by public officials and to improve transparency regarding their financial interests, particularly concerning digital assets. Below is a summary of the main provisions of the bill.
Prohibited Financial Transactions
The bill defines several financial transactions that public officials and their immediate family members are prohibited from engaging in. These include:
- Issuing, sponsoring, or endorsing securities that are digital assets, such as cryptocurrencies or tokens.
- Trading or investing in financial interests related to digital assets.
This prohibition applies not only during the time of service of a public official but also during specific timeframes before and after their tenure, specifically:
- The 180 days before their service starts.
- The two years after their service ends.
Civil and Criminal Penalties
Violating the prohibitions outlined can result in civil actions brought by the Attorney General, with penalties that may include:
- A fine of up to $25,000 per violation.
- A percentage of the monetary value of the transaction, or any profits gained from the prohibited conduct.
Criminal penalties may include imprisonment and fines, particularly for violations that result in substantial losses to others or for acts of insider trading. There is also specific mention of bribery linked to these prohibited transactions, which carries severe penalties.
Ethics Requirements for Cryptocurrencies
The bill requires public officials to disclose any cryptocurrencies, tokens, or digital assets exceeding $1,000 in fair market value they hold. This is intended to promote transparency regarding their financial interests in these assets.
Public Official Certification Requirement
Payment stablecoin issuers must certify that no public official profits from their issuance. This involves:
- Submitting initial and ongoing certifications to relevant Federal regulators.
- Making these certifications publicly available.
Government Accountability Office (GAO) Report
The bill mandates that, within 360 days of its enactment, the Comptroller General of the United States must submit a report to Congress. This report will contain recommendations for updating ethics laws and enforcement procedures related to digital assets.
Relevant Companies
- COIN - Coinbase Global, Inc. is significantly affected as it deals primarily in cryptocurrencies and could face increased scrutiny and regulatory challenges under this bill.
- GBTC - Grayscale Bitcoin Trust may need to adjust its operational compliance and governance structures in response to potential regulatory changes affecting public financial disclosures related to cryptocurrency investments.
- ETHE - Grayscale Ethereum Trust could encounter similar impacts and adjustments as it manages digital assets under the new disclosure requirements mandated by this bill.
Senator Adam B. Schiff Bill Proposals
Here are some bills which have recently been proposed by Senator Adam B. Schiff:
- S.2189: A bill to amend the Internal Revenue Code of 1986 to treat certain assisted reproduction expenses as medical expenses of the taxpayer.
- S.2188: A bill to require the publication of data sets regarding firearm trace data.
- S.2143: Curbing Officials' Income and Nondisclosure (COIN) Act
- S.2088: Firearm Destruction Licensure Act of 2025
- S.1870: Rim of the Valley Corridor Preservation Act
- S.1531: Assault Weapons Ban of 2025
You can track bills proposed by Senator Adam B. Schiff on Quiver Quantitative's politician page for Schiff.
Senator Adam B. Schiff Net Worth
Quiver Quantitative estimates that Senator Adam B. Schiff is worth $1.9M, as of July 3rd, 2025. This is the 227th highest net worth in Congress, per our live estimates.
Schiff has approximately $768.5K invested in publicly traded assets which Quiver is able to track live.
You can track Senator Adam B. Schiff's net worth on Quiver Quantitative's politician page for Schiff.
Senator Adam B. Schiff Stock Trading
We have data on up to $65.0K of trades from Senator Adam B. Schiff, which we parsed from STOCK Act filings. Some of the largest trades include:
- A December 13th, 2021 sale of up to $50K of $ABBV. The stock has risen 50.78% since then.
You can track Senator Adam B. Schiff's stock trading on Quiver Quantitative's politician page for Schiff.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
