According to Fox News, U.S. Senator Adam Schiff has introduced the COIN Act, a bill aimed at prohibiting government officials, including former President Donald Trump, from issuing or sponsoring digital assets like NFTs and memecoins. Fox News reports that despite being seen as a crypto ally with an 'A' grade from advocacy group Stand With Crypto, Schiff's action highlights a significant political division that could create headwinds for future market-wide crypto legislation. This bill is one of several similar Democratic efforts, creating regulatory uncertainty for traders and investors by potentially complicating the path for the comprehensive crypto market structure bills that the industry seeks, even as Trump himself has become a vocal supporter of the digital asset industry.

According to @FoxNews, the US crypto market faces increasing regulatory pressure as Senator Adam Schiff introduced the COIN Act, a bill aimed at prohibiting government officials, including Donald Trump, from issuing or sponsoring digital assets. This move, which has support from other Democrats, reflects growing concerns over potential conflicts of interest despite Schiff's otherwise pro-crypto stance, as noted by his 'A' grade from advocacy group Stand With Crypto. The source highlights a broader industry tension between its cypherpunk, anti-establishment origins and the current trend of seeking mainstream legitimacy through corporate adoption and political lobbying by entities like Coinbase and Ripple. This regulatory uncertainty unfolds as Bitcoin (BTC) trades around $107,260, Ethereum (ETH) at approximately $2,439, and Solana (SOL) near $147.45, creating a complex environment where political developments could significantly influence market sentiment and asset valuations.

According to @FoxNews, former President Donald Trump reiterated his pro-crypto stance at a Coinbase summit, promising his administration would work towards "clear and simple" market frameworks for digital assets. Trump also referenced his support for the GENIUS Act for stablecoins and claimed to have created a US Strategic Bitcoin Reserve, though this has not been actualized. This pro-crypto positioning contrasts with new legislative efforts from Democrats. Senator Adam Schiff, despite being considered a crypto ally, has introduced the 'COIN Act' to prohibit the president and other senior officials from issuing or sponsoring digital assets, citing ethical concerns over Trump's family profiting from crypto ventures. This bill is one of several similar proposals from Democrats, though they are unlikely to pass the Republican-controlled Congress. This political uncertainty unfolds as the crypto market experiences a downturn, with provided data showing Bitcoin (BTC) trading at $105,676 (-1.75%) and Ethereum (ETH) at $2,409 (-4.46%), while altcoins like Solana (SOL) and Cardano (ADA) have seen steeper drops of over 7%.

According to @EleanorTerrett, the U.S. crypto market faces two pivotal legislative developments with significant trading implications. Senator Cynthia Lummis is pushing a major amendment to a budget bill that could dramatically benefit crypto holders and traders by waiving taxes on transactions under $300 and, crucially, changing the tax rules for staking and mining rewards to be taxed only upon sale, not acquisition. This could boost the profitability of staking assets like Ethereum (ETH) and increase retail adoption. The source indicates this amendment also aims to address wash trading rules and crypto lending taxes. Concurrently, Senator Adam Schiff, despite being a crypto ally, has introduced the COIN Act to prohibit officials like Donald Trump from issuing digital assets, reflecting Democratic concerns over potential conflicts of interest. This introduces political uncertainty that could complicate the path for broader crypto market structure bills. While the market shows consolidation, with ETH trading around $2,490 and SOL at $155, the outcomes of these legislative efforts represent major potential catalysts.

According to @FoxNews, former President Donald Trump has reiterated his pro-crypto stance at a Coinbase summit, promising his administration will work towards 'clear and simple' regulatory frameworks and support stablecoin legislation. This comes as Democratic Senator Adam Schiff, a noted crypto ally, introduced the COIN Act to ban senior officials like Trump from issuing or sponsoring digital assets due to ethical concerns over potential self-enrichment, a sentiment echoed by other Democrats. Despite this legislative pushback, the crypto market shows strength, with Bitcoin (BTC) trading above $107,000 and Ethereum (ETH) above $2,500, alongside gains in major altcoins like Solana (SOL) and Cardano (ADA).

According to Fox News, President Donald Trump's recent statement on Truth Social, suggesting massive economic growth will offset deficits from his proposed tax cuts, has strengthened the bull case for Bitcoin (BTC) and gold. Crypto analyst Will Clemente noted on X that such loose fiscal policy makes hard assets like Bitcoin attractive hedges against potential inflation and currency debasement, as cited in the report. In the markets, Bitcoin (BTC) traded in a volatile range between $107,194 and $108,489. Concurrently, the report highlights new legislative pressure, with U.S. Senator Adam Schiff introducing the COIN Act. This bill, as stated by Schiff, aims to prohibit the president and other senior government officials from issuing or sponsoring digital assets, citing concerns over potential conflicts of interest. This development introduces a new regulatory variable for traders, even as Schiff is considered an industry ally who recently supported a stablecoin bill.

According to @FoxNews, President Donald Trump has reinforced his pro-crypto stance, stating his administration will work towards 'clear and simple' market frameworks and supports the GENIUS Act for stablecoins. For traders, a key development is Trump's mention of establishing a 'US Strategic Bitcoin Reserve,' a potentially significant bullish catalyst for Bitcoin (BTC), though it has not yet been created. However, this pro-growth outlook is met with regulatory headwinds. Senator Adam Schiff, despite being seen as a crypto ally, has introduced the COIN Act to prohibit senior government officials from issuing or sponsoring digital assets. This highlights a complex political dynamic, as the crypto industry, through lobbying arms like the Fairshake super PAC backed by Coinbase, navigates bipartisan legislative efforts that will shape the future market structure.

According to @FoxNews, U.S. Senator Tim Scott has set a new September 30 deadline for completing the crypto market structure bill, a timeline he described as a 'realistic expectation' at a press event. This schedule is later than President Trump's request but faster than the year-end target previously suggested by Senator Cynthia Lummis. However, progress could be slowed by the need for coordination with the House and the Senate Agriculture Committee. Concurrently, Senator Adam Schiff has introduced the COIN Act to prohibit officials like President Trump from sponsoring digital assets, citing ethical concerns over personal enrichment. This legislative push from Democrats, including some crypto allies, introduces a layer of political complexity. Amidst these regulatory developments, major cryptocurrencies show mixed performance, with Ethereum (ETH) trading around $2,437, Solana (SOL) near $151.58, and Cardano (ADA) at approximately $0.5553, reflecting trader caution as they await clearer legislative outcomes.

According to @FoxNews, U.S. Senator Tim Scott, chairman of the Senate Banking Committee, has established a new target deadline of September 30 for completing the comprehensive crypto market structure legislation. Scott stated this timeline is a 'realistic expectation' and urged the House to quickly approve the separate GENIUS Act for stablecoins, a sentiment echoed by White House crypto adviser Bo Hines. However, the process faces potential delays as it requires coordination with the Senate Agriculture Committee and alignment with the House, where key lawmakers have not committed to the Senate's timeline. Separately, Senator Adam Schiff has introduced the COIN Act, which aims to prohibit the president and other senior officials from issuing or sponsoring digital assets, citing ethical concerns over President Trump's crypto-related profits. This introduces a layer of political complexity, even from crypto-friendly Democrats, which could impact the bill's passage. While these regulatory developments unfold, market data shows positive short-term momentum, with major assets like Ethereum (ETH), Cardano (ADA), and Solana (SOL) posting gains over the past 24 hours.

According to the source, U.S. Senator Adam Schiff has introduced the Curbing Officials’ Income and Nondisclosure (COIN) Act, which aims to prohibit the president, vice president, and members of Congress from issuing or endorsing digital assets like NFTs, meme coins, or stablecoins. The source states this bill is a response to President Donald Trump's own cryptocurrency ventures, which include NFT collections and a self-branded memecoin. For traders, this legislative push, even from crypto-supportive Democrats like Schiff, introduces significant political uncertainty for broader U.S. crypto market structure bills. The source notes that while the COIN Act itself is unlikely to pass in the Republican-controlled Congress, its supporters may attempt to attach it to other critical crypto legislation, potentially delaying or complicating the path to regulatory clarity that the industry seeks.

According to the source, the U.S. crypto regulatory landscape is experiencing divergent trends at the federal and state levels, creating uncertainty for traders. At the federal level, Senator Adam Schiff, despite being seen as a crypto ally, has introduced the COIN Act to prohibit government officials like Donald Trump from issuing or sponsoring digital assets, citing ethical concerns over potential self-enrichment. This bill is one of several similar Democratic efforts that, while unlikely to pass the current Congress, highlight a persistent political division that could complicate broader market structure legislation. For traders, this signals ongoing regulatory risk and potential hurdles for achieving clear, bipartisan crypto laws. Simultaneously, at the state level, Connecticut has enacted a ban preventing its government from investing in, holding, or accepting cryptocurrencies like Bitcoin (BTC). This move directly opposes a growing trend in states such as New Hampshire and Texas, which are pursuing state-level crypto reserves. The legislative divergence between states like Connecticut and others creates a fragmented regulatory environment, potentially impacting crypto adoption and business operations across the United States.