S.Amdt. 4681

This amendment, submitted by Mr. Merkley, seeks to replace the entire content of bill S. 1383 with the End Crypto Corruption Act of 2026. Its purpose is to stop specific government officials and their immediate families from participating in certain digital asset transactions.

What it aims to change or add:

• Who is restricted: It identifies covered individuals, which include the President, Vice President, Members of Congress, Senate-confirmed appointees, and certain special Government employees in the Executive Office of the President. These restrictions also apply to their spouses and dependent children.

• What is prohibited: It bans these individuals from directly or indirectly engaging in prohibited financial transactions. This includes the issuance, sponsorship, or endorsement of digital assets sold for money, such as:

  • Cryptocurrency
  • Meme coins
  • Tokens
  • Non-fungible tokens (NFTs)
  • Stablecoins
  • Related synthetic interests (like derivatives) or aggregated interests (like mutual funds).

• What is allowed: It does not prohibit the simple buying, selling, or holding of assets that are routinely available to the general public.

• Timeline: The ban lasts during the individual's term of service and for one year after their service ends.

• Accountability:

  • Civil Penalties: Violators may face civil actions by the Attorney General, fines (up to 10 percent of the asset value or the amount of financial gain, whichever is greater), and the requirement to give back any profits to the Treasury.
  • Criminal Penalties: Criminal charges, including fines and up to 5 years in prison, can apply if the violation causes a loss of $1,000,000 or more to people in the U.S., or if the official benefits financially.
  • Bribery: Extra penalties apply if the transaction is used to corruptly influence official acts.
  • Legal Status: Any conduct involving these prohibited transactions is considered an unofficial act and is not covered by official duty immunities.