Senator Ritchie Torres (D-NY) has introduced a bill aiming to prevent government officials and their immediate families from profiting off memecoins and stablecoins. The legislation, titled the ‘Stop Presidential Profiteering from Digital Assets Act,’ seeks to curb conflicts of interest by prohibiting any involvement in digital assets using the names, images, or likenesses of current and former U.S. political figures, including presidents and lawmakers. 
NEW from Rep. @RitchieTorres (D-NY) — he’s introducing a bill that would prevent federal officials and their immediate family members from profiting off meme coins and stablecoins. pic.twitter.com/zaZpuInFc4 — Eleanor Terrett (@EleanorTerrett) May 7, 2025