Gillibrand Renews Push to Ban Elected Officials From Meme Coins

Gillibrand renews call to bar officials from meme coins

Senator Kirsten Gillibrand renewed her push on 3 July 2026 to prohibit elected officials and their spouses from issuing or promoting cryptocurrency assets. The New York Democrat framed the measure as an ethics reform. She acted after new reporting on President Donald Trump's personal financial disclosure.

"This is a commonsense requirement that should get broad bipartisan support—public officials and their spouses should not be issuing meme coins.", 3 July 2026. — Kirsten Gillibrand, U.S. Senator for New York

Disclosure lists $635 million from meme coin licensing

Trump's financial disclosure reported more than $635 million from a licensing deal tied to a meme coin bearing his name. That sum was his single largest income source for the year. The filing listed over $1.2 billion in total crypto income, including more than $550 million from World Liberty Financial token sales and $260 million from selling interests in that business. The 927-page document went to the U.S. Office of Government Ethics.

Proposal targets the president, Congress, and spouses

Gillibrand's plan would make it illegal for the president, members of Congress, and their spouses to issue or sponsor digital assets, including meme coins. The disclosure also showed First Lady Melania Trump issued her own meme coin and reported about $6 million from non-fungible tokens (NFTs) and other digital collectibles. She argued that ethics standards must accompany any broader crypto legislation.

Ethics fight shadows the pending crypto bill

Provisions addressing Trump's crypto ventures were removed from the GENIUS Act before he signed that stablecoin law in July 2025. In May 2026, Gillibrand said the Clarity Act would not pass without ethics provisions. According to Galaxy researchers, the bill's 2026 passage odds stood at roughly 50-50. She said self-dealing must not undermine consumer protections in the wider crypto framework.