FOR IMMEDIATE RELEASE
September 14, 2026
Contact: Stella Roque, RepresentUs, press@represent.us
Washington, D.C. — RepresentUs opposes the Digital Asset Market Clarity Act (H.R.3633), a crypto-market restructuring bill facing a Senate vote this month. The legislation—which is up for a first vote on September 15— as drafted, recognizes the danger of officials’ and their families’ involvement in crypto–but at the same time, protects the ability of the Trump family to keep running highly problematic crypto schemes.
“The bill is a blueprint for legalized corruption,” said Maria McFarland Sánchez-Moreno, CEO of RepresentUs. “Right now, sitting officials and their family members can launch a crypto coin, take a cut in trading fees, and let anyone—a foreign national, a foreign government, a defense contractor, a person with a case at a federal agency—buy influence anonymously with a few keystrokes. Instead of fully closing that loophole, the Clarity Act, as currently written, would let those who already took advantage of it keep raking in the profits.”
News reporting and company disclosures put the Trump family’s pre-tax crypto profits at $1-2 billion since Trump returned to office, from ventures including $TRUMP and $MELANIA coins, World Liberty Financial’s WLFI token, and the mining company American Bitcoin. Buyers of these tokens remain completely anonymous. A foreign fund or a company seeking a federal contract can send a public official’s family millions of dollars with no public record of who paid or why.
Congress needs to either close the bill's conflict-of-interest loopholes, or scrap the bill. These loopholes include:
- Grandfathered Assets: The bill allows public officials to keep existing crypto investments and pre-existing business deals.
- No Divestments Requirement for Public Officials: The President, Cabinet, Congress, and SEC/CFTC officials aren't required to disclose or divest personal crypto holdings before acting under this law.
- No Provisions on Conflicts-of-Interest for Public Officials: The bill permits the family members such as the adult children of public officials to freely own and invest in crypto ventures and potentially leverage their public connections and influence for private profit.
- Convenient Expiration Dates: Ethics safeguards sunset in January 2029 and erase liability for past violations protecting officials currently in the crypto business.
- Insider trading rules may not follow the crypto coin: The bill's insider-trading ban only clearly applies while a token counts as a "security." Once a token is classified as a "commodity", it's unclear any insider-trading rule still applies.
“Congress can prove that the rule of law still applies to the people who write the rules,” said Megan Caska, RepresentUs Vice President of Advocacy and Communications. “Passing this bill without fixing the ethics gaps tells every future official there’s a legal way to sell access to power.”
RepresentUs is the nation’s largest nonpartisan organization dedicated to building a movement that makes government truly accountable to the American people. We unite people from all backgrounds to defend democracy, root out corruption, mobilize action, and support campaigns at every level to build a political system that truly serves the public.