It is proposed that the bureau investigate cases of corruption among officials and recover illegally obtained funds. A council of seven members approved by the Senate should head the new federal bureau, suggested Schumer. The agency should operate independently, possessing powers to investigate and interrogate witnesses.
Schumer also believes it is necessary to allow private individuals and state attorneys general to file lawsuits against public officials and large companies to recover money they may have obtained through corruption. The Democrat believes his bill will eliminate conflicts of interest and abuse of official position by civil servants engaged in cryptocurrency business.
The senator reminded that after returning to the presidency in 2025, Donald Trump earned over $1.4 billion from crypto projects. The Trump family earned over $4 billion during the same period. Specifically, this concerns the credit platform World Liberty Financial, the WLFI token, as well as the meme coins TRUMP and MELANIA.
The White House claims there is no conflict of interest in Trump's actions. Disputes surrounding the president's crypto business have become one of the reasons why the consideration of the CLARITY bill has stalled. Democrats insist that provisions must be added to the bill prohibiting the president, members of Congress, government employees, and their families from profiting from cryptocurrencies while in office.
Earlier, Schumer, together with his Democratic colleagues Elizabeth Warren and Jeff Merkley, had already proposed similar amendments to the GENIUS bill on the issuance and circulation of stablecoins. The law was passed without these amendments in the summer of 2025.
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