U.S. Senate Minority Leader Chuck Schumer on Thursday introduced the Anti-Corruption Bureau Creation Act, a bill that would create a new federal anti-corruption body and put Trump family crypto profits under scrutiny.
The bill points to Trump’s 2025 income and crypto-related earnings
According to the proposal, Donald Trump made more than $2 billion in 2025, with $1.4 billion of that total coming from cryptocurrency. The bill also says Trump family members put more than $1 billion into crypto funds tied to foreign governments, and that the family’s cumulative profits exceeded $4 billion.
Schumer said the new bureau would be made up of seven bipartisan members and would hold full investigative, subpoena, oversight and enforcement authority. The bill is also designed so the bureau’s leadership, structure and funding would be shielded from presidential interference, preventing a future chief executive from eliminating it by cutting its budget or firing its leadership.
The legislation would also create a path for private citizens and state attorneys general to sue in order to recover money allegedly stolen through corruption. Schumer said, "This will replace a patchwork of disparate oversight agencies with one strong anti-corruption body that can move at any time. No president should be allowed to treat the White House like a personal ATM."
Co-sponsors and outside support
The bill is co-sponsored by Senators Jeff Merkley of Oregon, Alex Padilla of California and Andy Kim of New Jersey.
Groups that publicly backed the proposal include Public Citizen, Common Cause, Campaign Legal Center, CREW, short for Citizens for Responsibility and Ethics in Washington, Protect Democracy and Defend the Vote Action Fund.
Speaking at a Public Citizen forum, Schumer described the proposed body as having "real teeth" and enforcement power. He said the legislation would bring the Federal Election Commission, the Office of Government Ethics and the Office of Special Counsel together "under one roof."
Senate Democrats released a separate report
Schumer presented the measure as part of a broader anti-corruption plan. At the same time, Senate Democrats released a report titled, "The Cost of Corruption: How Trump Turns Power Into Profit, Paid for by the American People."
As cited in the report, Trump has turned the presidency into part of a sprawling family business since returning to the White House in 2025. The report refers to a luxury jet, a vanity project and a MAGA donation pool, while saying ordinary families are struggling with food, gasoline, housing and healthcare costs.
Crypto ties entered the debate around the CLARITY Act
Schumer said the Trump family’s connections with the cryptocurrency industry have become one reason some lawmakers are weighing whether to support the CLARITY Act. While the White House agreed to certain ethics measures, many legislators still see those steps as insufficient.
Former SEC official John Reed Stark said at the forum, "Everybody is asking where the CLARITY Act goes this week, and nobody feels comfortable making a call."
As of Thursday, the Senate had not scheduled a vote. Coinbase CEO Brian Armstrong said on X that the bill had reached the "one-yard line," while Senator Cynthia Lummis continued to push for a vote.
No Senate vote has been scheduled yet
If passed, the legislation would create a dedicated agency to oversee corruption across the federal government, with particular attention to crypto investments and conflicts of interest. Under the account presented in the bill, Trump family gains in the crypto market could become one of the first matters reviewed.
The Senate has a little more than one week left before recess. Whether the measure can pass before the 2026 midterm elections remains unclear.