Senate leader proposes bureau to investigate Trump crypto

Senate Democratic Leader Chuck Schumer introduced legislation on Thursday, July 30, 2026, to create a new federal AntiCorruption Bureau, a proposal framed as a direct response to President Donald Trump's financial disclosures and his family's cryptocurrency holdings. The bill, titled the AntiCorruption Bureau Creation Act, seeks to establish an independent agency with broad powers to investigate, enforce, and prevent corruption within the executive branch.

The legislation specifically references President Trump's financial disclosures, which report over $2 billion in investment gains in 2025, including $1.4 billion tied to cryptocurrency. It also cites findings that the Trump family holds more than $1 billion in a cryptocurrency fund with ties to foreign governments. Schumer, speaking at a Public Citizen forum, argued these holdings raise significant ethical questions and potential conflicts of interest. He described the current oversight system as a "broken patchwork of watchdogs" and said the new bureau would have "real teeth" with enforcement authority.

The proposed bureau would consolidate several existing oversight bodies, including the Federal Election Commission, the...