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According to Cointelegraph, US Senator Adam Schiff and nine Democratic lawmakers have proposed the COIN Act, which aims to prohibit President Trump and public officials from issuing, promoting, or endorsing cryptocurrencies between 180 days and 2 years before and after his term. The proposal directly responds to the $57.4 million in revenue disclosed by World Liberty Financial (WLF), a cryptocurrency platform affiliated with President Trump's family, as well as the USD1 stablecoin launched by WLF in March of this year. The bill specifically targets payment based stablecoins and requires the expansion of the existing STOCK Act to include digital assets. Previously, Congressman Maxine Waters had proposed a similar "Stop Trump's Cryptocurrency Corruption Act," but both houses of Congress have a minority Democratic Party position, and the prospects of the bill passing are questionable.