COIN Act Dey Stop US Officials Make Crypto Profits to Avoid Wahala
Di COIN Act wey Senator Adam Schiff bring, e wan make e no possible for President, Vice President and dem family dem to issue, sponsor or promote any digital asset—like meme coins, NFTs and stablecoins—180 days before dem enter office and make e last for two years after dem commot. E make say dem go dey report crypto holdings and transactions every year, e treat digital assets like conflict wey mean say dem gats dey out of related decisions, and e make stablecoin issuers certify every three months say no public officer dey benefit. Government Accountability Office gats do review for federal ethics and crypto oversight and deliver am in 360 days. Di law get backing from some Democrat senators and e come cos them hear say former President Trump make $57.4 million from crypto for 2024, e dey try make crypto regulation transparent.
Neutral
Dis regulatory proposal na focus for governance and disclosure, no be to put direct market restrictions or incentives. E fit make compliance costs high for issuers and add more watch on stablecoins, but e no dey target trading activity or token fundamentals. Short-term impact for crypto prices suppose be limited, and long-term effect go focus on transparency and ethical standards no be market direction, so the net effect na neutral.