U.S. Senate Minority Leader Chuck Schumer introduced the Anti-Corruption Bureau Creation Act on Thursday, proposing a federal agency with authority to investigate and pursue executive-branch corruption. During a forum organized by Public Citizen, Schumer described the future agency as having real enforcement power, featuring a bipartisan, seven-member board confirmed by the Senate. The legislation would establish a centralized authority for enforcing federal ethics and anti-corruption regulations, replacing a broken patchwork of independent watchdogs with one powerful anti-corruption agency. The bill would combine the Federal Election Commission, Office of Government Ethics and Office of Special Counsel inside one independent bureau, allowing state attorneys general and private plaintiffs to seek recovery of allegedly corrupt funds.
Trump's certified disclosure entries totaled over $2 billion across crypto-related ventures during calendar year 2025, according to the latest legislative text. The disclosure lists $635.1 million in royalties from Celebration Coins and records hundreds of millions of dollars from World Liberty Financial token sales, equity transactions and crypto wallets. Additionally, $196.9 million is tied to a stablecoin-related holding company. The bill separately states that Trump's family held more than $1 billion in a crypto fund connected to foreign governments, referencing a reported United Arab Emirates-backed investment in World Liberty Financial. Schumer's focus on Trump's crypto-related wealth has intensified concerns among Democratic lawmakers about the president's potential conflicts of interest.
White House Principal Deputy Press Secretary Anna Kelly stated that Trump's investments were held in fully discretionary accounts managed by independent third-party financial institutions, maintaining there were 'no conflicts of interest'. According to Crypto.news, Trump has also said he does not manage his personal finances while serving as president. The White House disputes the premise that Trump's business income creates an unlawful conflict of interest. When approached for comment regarding the anti-corruption agency proposal, the White House had not provided a response.
The bill faces significant political hurdles, requiring bipartisan support and a two-thirds majority to override a presidential veto. The measure must clear both chambers before reaching Trump, who could veto it. The proposal enters a wider debate over the Digital Asset Market Clarity Act, with former SEC official John Reed Stark noting that 'of all the experts and political insiders I spoke with yesterday, not one could say for sure what happens this week with the CLARITY Act'. Coinbase CEO Brian Armstrong said the market structure bill is at the 'one-yard line,' while Senator Cynthia Lummis continues to advocate for a full Senate vote. With only a week left before a month-long legislative recess, some fear that coming midterm elections could delay major bills further.
