Sen. Gillibrand Proposes Ban on Digital Asset Issuance by Congress, U.S. President, and President’s Spouse

Senator Kirsten Gillibrand proposed on July 4 to prohibit members of Congress, the US president, and the president’s spouse from issuing or sponsoring digital assets, including meme coins. According to NS3.AI, the proposal comes as lawmakers continue debating ethics-related guardrails tied to crypto legislation. Galaxy estimated the odds of the CLARITY Act passing in 2026 at roughly 50%. Gillibrand said unresolved ethics provisions remain a key sticking point in the legislative process.