Gillibrand Seeks Ban on Elected Officials Issuing Digital Assets Amid Trump's $1B Crypto Income

US Senator Kirsten Gillibrand has reintroduced her proposal to ban elected officials and their spouses from issuing digital assets. This move comes after President Donald Trump's latest financial disclosure showed that a significant portion of his income in 2025 came from the TRUMP memecoin, which generated $635 million in disclosed income.

Gillibrand has been pushing for this ban alongside her colleagues and argues that public officials should not profit from their office. The proposal would prohibit Trump from issuing or sponsoring any digital assets, including memecoins like TRUMP and MELANIA, issued by his wife Melania.

Trump's financial disclosure also showed over $1 billion in crypto-related income for 2025, with more than $500 million coming from World Liberty Financial (WLFI) token sales. Gillibrand claims that this is an example of why ethics reforms are necessary to prevent members of Congress and the president from profiting from their office.