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Gillibrand renews ban call on officials issuing digital assets after Trump disclosure

Gillibrand renews ban call on officials issuing digital assets after Trump disclosure

Gillibrand again urged Congress to bar public officials and their spouses from issuing or sponsoring digital assets, a proposal that would apply to President Trump and cover meme coins.

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Fact Check
The originating Politico report directly quotes Sen. Kirsten Gillibrand saying 'I have no involvement in it whatsoever' regarding her son Theo Gillibrand's business, American Perpetuals Exchange Corp (APEC). Politico and Fortune both confirm Ripple co-founder Chris Larsen invested in APEC and that the company raised $30 million (from Lux Capital at a $300 million valuation). Both also confirm the CLARITY Act ethics negotiations context under a tightened Senate timetable (targeted July vote before August recess). Every element of the claim is corroborated by multiple authoritative sources with no conflicting evidence.
Summary

Senator Kirsten Gillibrand on the 3rd renewed her call for Congress to ban public officials and their spouses from issuing or sponsoring digital assets. The proposal would make it illegal for President Trump to issue or sponsor digital assets, including meme coins, if enacted. The renewed push follows scrutiny tied to Trump’s crypto activities and broader conflict-of-interest concerns over whether elected officials should be able to create, back or profit from tokens while influencing policy for the sector. Separately, Gillibrand has said she had “no involvement” in her son Theodore Gillibrand’s derivatives exchange, American Perpetuals Exchange Corp. (APEC), as attention also remains on crypto market-structure legislation including the Clarity Act.

Terms & Concepts
  • digital assets: Blockchain-based tokens or related crypto holdings.
  • meme coins: Crypto tokens whose popularity and price are often driven by internet culture and speculation.
  • Clarity Act: A bill under discussion that would set rules for parts of the digital-asset market structure.