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Stop Presidential Profiteering from Digital Assets Act
To prohibit the issuance, promotion, or sale of digital assets that use the name, likeness, or identifiable traits of certain Federal officials or their immediate family for financial gain, and to establish regulatory oversight under the Securities and Exchange Commission.
Summary
This bill prohibits the issuance, promotion, marketing, or sale of digital assets, including cryptocurrencies and meme coins, that use the name, likeness, or identifiable traits of the President, Vice President, Members of Congress, Senate-confirmed Federal officials, or their immediate family members if the asset would result in financial gain to those individuals. The bill presumes a violation regardless of whether the covered individual consents to or endorses the digital asset, and consent is not a legal defense. The Securities and Exchange Commission is given exclusive authority to enforce the law and may impose civil penalties of up to $250,000 per violation or an amount equal to the gross financial gain received, whichever is greater, and may seek injunctive relief to stop distribution of prohibited assets. The SEC must issue implementing regulations within 180 days of the bill's enactment.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
1 cosponsor
- Rep. Kiley, Kevin [I-CA-3] (I-CA)
Actions (2)
- May 8, 2025 Referred to the House Committee on Financial Services. · house
- May 8, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
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Full text
IN THE HOUSE OF REPRESENTATIVES
May 8, 2025
Mr. Torres of New York introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To prohibit the issuance, promotion, or sale of digital assets that use the name, likeness, or identifiable traits of certain Federal officials or their immediate family for financial gain, and to establish regulatory oversight under the Securities and Exchange Commission.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Stop Presidential Profiteering from Digital Assets Act”.
SEC. 2. DEFINITIONS.
For the purposes of this Act:
(1) Digital asset means a digital representation of value that is recorded on a cryptographically secured distributed ledger or any similar technology, including but not limited to, cryptocurrencies, stablecoins, and meme coins.
(2) Covered individual means:
(A) The President or Vice President of the United States;
(B) Members of Congress;
(C) Any Federal officer or official confirmed by the Senate; or
(D) Any immediate family member of such individuals.
(3) Immediate family member includes a spouse, child, or other relative residing in the same household.
(4) Identifiable traits include name, image, likeness, signature, slogans, or other personally distinguishing characteristics.
SEC. 3. PROHIBITION ON DIGITAL ASSET EXPLOITATION FOR PERSONAL GAIN.
(a) Unlawful Conduct.—It shall be unlawful for any person to issue, promote, market, or sell a digital asset that:
(1) Uses the identifiable traits of a covered individual; and
(2) Is reasonably likely to result in direct or indirect financial gain to such individual.
(b) Presumption of Violation.—A digital asset that meets the conditions in subsection (a) shall be presumed to violate this Act, regardless of consent or endorsement by the covered individual.
(c) Consent Not a Defense.—Voluntary participation or authorization by a covered individual shall not constitute a defense to liability under this section.
SEC. 4. ENFORCEMENT BY SECURITIES AND EXCHANGE COMMISSION.
(a) Authority.—The Securities and Exchange Commission shall have exclusive authority to enforce the provisions of this Act.
(b) Penalties.—Any person found to have violated this Act shall be subject to:
(1) A civil penalty not to exceed $250,000 per violation; or
(2) An amount equal to the gross financial gain received, whichever is greater.
(c) Injunctive Relief.—The Commission may seek injunctive relief to prevent the issuance or further distribution of prohibited digital assets.
SEC. 5. RULEMAKING.
The Securities and Exchange Commission shall promulgate regulations to implement and enforce this Act no later than 180 days after its enactment. <all>
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