Schumer Targets Trump Crypto Business with Anti-Corruption Bill
US Senate Democratic Leader Chuck Schumer has introduced a bill to create an independent agency to investigate and prosecute corruption in the federal government. The Anti-Corruption Bureau Creation Act aims to address concerns about President Donald Trump's financial practices, particularly his reported cryptocurrency gains.
The bill references Trump's financial disclosures, which show over $2 billion in investment gains last year, including $1.4 billion tied to cryptocurrency. This figure represents a significant portion of his total earnings and has raised questions about potential conflicts of interest and foreign influence.
According to the bill, the proposed bureau would have subpoena power and the ability to refer cases for criminal prosecution. It would operate independently of existing agencies like the Department of Justice, which Schumer argues has faced political interference in recent years.