Senate Majority Leader Chuck Schumer has unveiled a sweeping proposal to create a new federal agency aimed at rooting out corruption in Washington — and it explicitly targets President Donald Trump’s sprawling cryptocurrency ventures. The bill, announced on Thursday, comes amid growing scrutiny of the president’s disclosure that he earned billions from digital assets in 2025, raising fresh questions about conflicts of interest at the highest levels of government.

The proposed legislation is a direct response to what critics see as an unprecedented overlap between presidential power and personal crypto wealth. Schumer’s office said the new agency would have broad authority to investigate ethics violations, foreign influence, and financial impropriety — with Trump’s business dealings squarely in its crosshairs.

Why Schumer Is Targeting Trump’s Crypto Empire

At the heart of the bill is the president’s own financial disclosure, which revealed that Trump amassed billions of dollars in cryptocurrency earnings during 2025. The disclosure also highlighted his family’s business relationships with foreign governments, a combination that Schumer argues creates an unacceptable risk of corruption.

“When a president is making billions in crypto while simultaneously negotiating trade deals and foreign policy, the American people deserve to know who is really calling the shots,” Schumer said in a statement. The senator has long been a vocal proponent of crypto regulation, but this marks the first time he has explicitly linked legislation to Trump’s personal holdings.

The proposal would establish an independent agency with subpoena power and the ability to investigate both elected officials and their immediate family members. It would also require public disclosure of all crypto wallets, transactions, and business partnerships involving the president, vice president, and their relatives.

Key Provisions of the Proposed Agency

According to a summary released by Schumer’s office, the new agency would have several core functions:

  • Investigate conflicts of interest — including any financial gains derived from policy decisions or foreign interactions.
  • Monitor foreign business ties — tracking deals between presidential family members and foreign governments or state-owned enterprises.
  • Enforce transparency — mandating regular public reports on crypto holdings and transactions for all top executive branch officials.
  • Prosecute corruption — referring cases to the Department of Justice or pursuing civil penalties for ethics violations.

The agency would operate independently of the White House, with a director appointed to a fixed term and removable only for cause. Schumer’s office emphasized that the bill is designed to restore public trust in government, which has been eroded by recent scandals involving crypto and political fundraising.

Trump Family Business Ties Under Scrutiny

The legislation specifically calls out the Trump family’s business dealings with foreign governments, which have been a recurring ethical flashpoint. For example, Trump’s sons have been involved in real estate and licensing deals in the Middle East and Asia, often involving partners with close ties to ruling families. The new agency would have the authority to examine these relationships in depth, potentially forcing the Trump Organization to disclose previously confidential contracts.

Legal experts say the proposal faces an uphill battle in Congress, where Republicans control the House. However, Schumer’s move is seen as a strategic effort to put the issue on the record ahead of the 2026 midterm elections, framing Trump’s crypto wealth as a liability for the GOP.

Reaction from the Crypto Industry and Lawmakers

The announcement has drawn mixed reactions from the cryptocurrency community. Some industry advocates worry that increased scrutiny could lead to overregulation, stifling innovation. Others, however, argue that transparency is essential for mainstream adoption. “If the president can profit from crypto without oversight, it undermines the entire premise of decentralized finance,” said one blockchain policy analyst, who asked not to be named.

Republican lawmakers have largely dismissed the proposal as a political stunt. Senator Cynthia Lummis (R-WY), a crypto-friendly voice, called it “an overreach that would chill legitimate business activity.” Meanwhile, progressive Democrats have praised the bill, with Senator Elizabeth Warren (D-MA) saying it “takes a critical step toward holding the powerful accountable.”

The White House has not yet issued an official response, but sources close to the administration say the president is likely to fight any attempt to force disclosure of his crypto assets, which he has previously described as a matter of personal privacy.

What This Means for Crypto Regulation

Beyond the immediate political firestorm, Schumer’s proposal signals a growing willingness among lawmakers to integrate crypto oversight into broader anti-corruption efforts. If passed, the agency would become the first federal body dedicated exclusively to monitoring digital asset holdings of public officials. That could set a precedent for other countries, many of which are already grappling with how to regulate political cryptocurrency holdings.

For now, the bill faces an uncertain path. But even if it fails, it has already achieved one goal: putting the spotlight squarely on the intersection of presidential power, family business, and the booming crypto economy. As the 2026 elections approach, expect this issue to remain a flashpoint in American politics.

Key Takeaways

  • Senator Chuck Schumer has introduced legislation to create a new anti-corruption agency targeting presidential crypto ventures.
  • The bill is a direct response to Trump’s disclosure of billions in crypto earnings and family ties to foreign governments.
  • The proposed agency would have subpoena power, enforce transparency, and investigate conflicts of interest.
  • Reaction is split, with Republicans calling it a political stunt and Democrats praising it as necessary oversight.
  • The outcome could shape future crypto regulation for public officials in the U.S. and abroad.