ChainThink reports that on July 31, according to Cointelegraph, U.S. Senate Minority Leader Chuck Schumer formally introduced the Anti-Corruption Agency Creation Act, proposing the establishment of a new government agency dedicated to addressing corruption at the federal level.
The bill specifically names Trump, citing over $2 billion in investment gains he disclosed in 2025, including $1.4 billion in crypto-related gains; it also mentions his family’s ownership of over $1 billion in crypto funds linked to foreign governments.
The proposed agency will consist of seven bipartisan members appointed upon confirmation by the Senate, with authority to investigate, enforce, and prevent administrative corruption, and is planned to consolidate the Federal Election Commission, the Office of Government Ethics, and the Office of Special Counsel.
Senators Andy Kim, Alex Padilla, and Jeff Merkley co-sponsored the proposal.
White House Deputy Press Secretary Anna Kelly responded that Trump's investments are held in discretionary accounts managed by independent third-party financial institutions, with no conflict of interest.