Curbing Officials' Income and Nondisclosure (COIN) Act

Prevention of Financial Exploitation: By prohibiting specific financial transactions, the bill seeks to prevent public office holders from exploiting their positions through digital assets (Section 2).

Increased Transparency through Disclosure: The bill requires the disclosure of the identity and category of value for digital assets held by individuals that exceed a certain value, which helps provide more information to the public (Section 4).

Stricter Accountability for Officials: The bill establishes civil penalties, including fines of up to $25,000 or a percentage of the financial interest, as well as requirements for the disgorgement of profits (Section 2).

Criminal Deterrents for Serious Violations: To deter high-level misconduct, the bill introduces criminal penalties including fines and imprisonment for up to 15 years in cases of bribery or insider trading involving prohibited transactions (Section s 3).

Ensuring Unbiased Decision-Making for Stablecoins: Through a certification process, the bill aims to ensure that no public official profits from the issuance of payment stablecoins in matters where they participate personally and substantially (Section 5).

Restrictions on Financial Activity for Families: The prohibitions on prohibited financial transactions extend not just to the official, but also to their "immediate family member," which includes spouses, parents, siblings, and children (Section 2).

Lengthy Timeframes for Restrictions: The prohibitions on transactions remain in effect during the official's service, for 180 days before service begins, and for a 2-year period after service is terminated (Section 2).

Severe Criminal Consequences: Individuals found to be involved in bribery or insider trading related to these transactions face significant prison time of up to 15 years (Section 3).

Financial Burdens via Civil Penalties: Officials and their family members may face civil penalties that are the greater of $25,000, 10 percent of the financial interest, or the amount of financial gain (Section 2).