U.S. Senator Schumer Proposes Anti-Corruption Agency, Cites Trump’s Crypto Connections

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U.S. Senator Chuck Schumer has introduced the Office of Anti-Corruption Creation Act, a bipartisan initiative to combat corruption in the executive branch. The bill specifically names Trump, citing over $20 billion in investment returns for 2025, including $14 billion in cryptocurrency. The Trump family is also reported to hold over $10 billion in cryptocurrency linked to foreign governments. The White House denies any conflict of interest. The proposed agency aligns with AML and CFT objectives to enhance oversight.

ME News reports that on July 31 (UTC+8), U.S. Senate Minority Leader Chuck Schumer introduced the Anti-Corruption Agency Creation Act, proposing the establishment of a dedicated agency to investigate, enforce, and prevent corruption within the executive branch. According to the proposal, the new agency would consist of seven bipartisan members requiring Senate confirmation, possess independent enforcement authority, and aim to consolidate functions from related entities such as the Federal Election Commission, the Office of Government Ethics, and the Office of Special Counsel. Schumer specifically named Trump in the bill, stating that his disclosed investment gains for 2025 exceeded $2 billion, approximately $1.4 billion of which is tied to crypto-related businesses; additionally, the Trump family holds over $1 billion in crypto funds linked to foreign governments. A White House deputy press secretary responded that Trump’s investments present no conflicts of interest. (Source: ODAILY)

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