During a heated session of the U.S. House Committee on Financial Services on June 7, 2025, a significant proposal emerged aimed at restricting cryptocurrency ownership among high-ranking officials, including the President and members of Congress. The discussion centered around a bill introduced by a committee member who expressed strong concerns about the potential for corruption linked to cryptocurrency investments by government leaders.

The member emphasized that the bill is designed to prevent the President and his family from profiting through cryptocurrency, arguing that such ownership undermines public trust and enriches those in power at the expense of the American people. "We cannot allow the President of the United States and his family to control crypto and enrich themselves," the member stated, highlighting the need for ethical standards in government.

The proposal aims to address what the member described as a "brazen" approach to personal enrichment by the President, suggesting that allowing officials to own cryptocurrencies could further empower them financially and politically. The member also indicated a willingness to discuss jurisdictional issues related to cryptocurrency regulation in the future, but firmly opposed any amendments that would enable current leaders to benefit from crypto investments.

As the committee session concluded, the chair announced a recess, indicating that further discussions and votes would follow. The implications of this proposed legislation could reshape the landscape of cryptocurrency ownership among government officials, reflecting ongoing concerns about transparency and accountability in public service.