Gillibrand Renews Memecoin Ban Push After Trump Crypto Income

U.S. Senator Kirsten Gillibrand has renewed her call for Congress to ban elected officials and their spouses from issuing or sponsoring memecoins. The push follows President Donald Trump's latest financial disclosure, which showed major income from crypto ventures.

Gillibrand's proposal would bar the creation and promotion of memecoins by federal officeholders and their immediate family members. The category covers digital tokens built around a personality or meme, often launched for speculative trading rather than any underlying utility.

The disclosure, filed with the Office of Government Ethics, lists revenue from several crypto-related projects. Trump has previously released NFT collections and a memecoin token, though the filing does not break down individual sources.

Gillibrand has argued that officials profiting from digital assets while shaping crypto policy creates an inherent conflict. The senator, who sits on the Senate Agriculture Committee with jurisdiction over the Commodity Futures Trading Commission, has long pushed for a comprehensive digital asset framework. The memecoin ban is a narrower piece of that agenda.

A similar bill failed to advance in the last Congress. Gillibrand's renewed push comes as lawmakers on both sides of the aisle have raised concerns about the proliferation of political memecoins. Some critics say the tokens allow politicians to monetize their public profiles without disclosure rules that apply to traditional securities.