Oregon Sen. Merkley urges Congress to pass bill he introduced “to make sure that NO president can abuse their office to profit off the presidency”

Oregon – Jeff Merkley said the need to prevent presidents from profiting from cryptocurrency has become increasingly urgent as he renewed his push for legislation aimed at restricting crypto-related financial activity by federal officials.

“I wrote the End Crypto Corruption Act to make sure that NO president can abuse their office to profit off the presidency,” Merkley said in a post Monday. “With each passing day, it’s clearer and clearer why we need to get this bill passed and stop presidential crypto schemes in their tracks.”

The Oregon Democrat also claimed last week that President Donald Trump had “raked in more than ONE BILLION DOLLARS from his crypto schemes during this term in office,” arguing that no president should be able to use the office to personally benefit from cryptocurrency ventures.

Merkley’s comments renewed attention on the End Crypto Corruption Act, legislation he introduced as part of an effort by Senate Democrats to address potential conflicts of interest involving cryptocurrency and elected officials.

The legislation, introduced in 2025 as S. 1668, would establish restrictions on certain cryptocurrency-related financial transactions involving the president, vice president, members of Congress and other senior federal officials. Congressional records show the measure was introduced by Merkley and remains pending in Congress.

The proposal emerged after Trump entered the cryptocurrency market while serving as president, including through the launch of the Official Trump memecoin and involvement in other digital-asset ventures.

When Merkley and Senate Democratic Leader Chuck Schumer announced the legislation in May 2025, they said the goal was to prevent elected officials and senior government officials from using their positions to personally benefit from cryptocurrency. The proposal also targeted members of Congress and certain members of their families.

News reports at the time highlighted concerns that Trump’s crypto ventures could create a mechanism through which people seeking influence with the administration could financially benefit the president by purchasing digital assets connected to him.

Sky News reported in May 2025 that critics were concerned about Trump’s cryptocurrency holdings and the possibility that people could use crypto purchases to cultivate influence with the president. Merkley described the arrangement as a corruption risk and argued that it could undermine public confidence in government.

Axios also reported that Senate Democrats were seeking to ban presidents, members of Congress and their families from issuing, endorsing or sponsoring crypto assets. The report said concerns surrounding Trump’s family crypto ventures were creating tension around broader cryptocurrency legislation being considered by Congress at the time.

The End Crypto Corruption Act would go beyond simply addressing Trump’s specific cryptocurrency projects. The legislation is designed to establish broader rules for federal officials and prevent future presidents or other government officials from using their positions to profit from digital assets.

According to congressional language, the measure would create a new category of prohibited financial transactions involving “covered individuals.” That category includes the president, vice president, members of Congress, individuals appointed to Senate-confirmed positions and certain special government employees associated with the Executive Office of the President.

Merkley’s latest comments come as Trump continues to face scrutiny over the financial value of his cryptocurrency interests.

The senator’s claim that Trump has earned more than $1 billion from crypto-related schemes is part of Merkley’s broader criticism of the president’s digital-asset activities. Other reporting has focused specifically on Trump’s Official Trump memecoin. A July 2026 report cited Trump’s 2025 financial disclosure as showing $636 million in income from the TRUMP token, illustrating the significant financial stakes surrounding the president’s cryptocurrency activities.

The issue has also become intertwined with broader congressional efforts to regulate the cryptocurrency industry. In 2025, Democrats raised concerns that legislation establishing a federal framework for stablecoins could benefit Trump’s cryptocurrency interests without stronger conflict-of-interest restrictions. Merkley subsequently criticized the Senate’s passage of the GENIUS Act, saying lawmakers had rejected his proposed amendments addressing crypto-related conflicts of interest involving Trump and other elected officials.

Merkley has continued to argue that cryptocurrency regulation should not allow elected officials to simultaneously write the rules governing the industry and personally profit from the market.

His latest comments again called on Congress to pass the End Crypto Corruption Act, framing the legislation as a safeguard against future presidents using the power and visibility of the presidency to generate personal income through cryptocurrency.

The bill remains pending in Congress, meaning it would need additional congressional action before becoming law.