Gillibrand Seeks Meme Coin Ban for Politicians Amid Trump's Crypto Windfall

New York Senator Kirsten Gillibrand is calling for a ban on meme coins issued by politicians and their spouses, citing concerns about self-dealing and ethics. This move comes after it was revealed that President Donald Trump earned more than $1.2 billion from his crypto endeavors last year, with over $635 million coming from his Solana-based meme coin.

Gillibrand has been a proponent of crypto regulation and has led efforts to crack down on illicit finance and strengthen consumer protections. She believes that public officials should not be able to profit from their office, saying 'This is a commonsense requirement that should get broad bipartisan support.'

The proposal aims to extend the ban to meme coins, which have been used by Trump and his wife Melania to profit from their fame. Gillibrand has also advocated for banning stock trading for public officials while they are in office.