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A resolution directing the Senate Legal Counsel to bring a civil action in the name of the Senate to enforce the Foreign Emoluments Clause contained in clause 8 of section 9 of article I of the Constitution of the United States.

Jul 21, 2026

Neutral on crypto
This resolution directs the Senate Legal Counsel to file a lawsuit against President Donald J. Trump for alleged violations of the Foreign Emoluments Clause. It highlights several business transactions as unauthorized foreign emoluments, including a $500 million foreign investment in the Trump family's cryptocurrency project, World Liberty Financial, a multi-billion dollar stablecoin deal involving Binance, and the sale of $635 million in a $TRUMP memecoin to foreign nationals.

Current Status

This bill is currently in the legislative process and has not yet been passed into law.
Analysis

While this resolution is a targeted constitutional enforcement action rather than a broad regulatory bill, its framing is critical of cryptocurrency activities. It specifically targets decentralized finance (DeFi) initiatives, stablecoin transactions, and memecoin distributions, characterizing them as key vehicles for corrupt foreign influence and national security vulnerabilities. By highlighting a UAE-backed investment in World Liberty Financial and a multi-billion dollar stablecoin transaction, the legislation portrays these crypto-based financial flows as bypasses for traditional transparency and constitutional boundaries. Furthermore, the resolution prominently features regulatory enforcement actions, such as the SEC's lawsuit against crypto entrepreneur Justin Sun, to cast doubt on the legitimacy of these digital asset ventures. Consequently, the resolution presents a negative perspective on the use of stablecoins and digital assets, associating them with illicit political access and financial impropriety rather than recognizing them as legitimate technological or financial innovations.

Votes

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Against

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(D)

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(R)

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Sponsor
Profile picture of Richard Blumenthal
F
Richard Blumenthal(D) Senator
Cosponsors (14)
Profile picture of Chris Van Hollen
F
Chris Van Hollen(D) Senator
Profile picture of Andy Kim
D
Andy Kim(D) Senator
Profile picture of Michael Bennet
F
Michael Bennet(D) Senator
Profile picture of Sheldon Whitehouse
F
Sheldon Whitehouse(D) Senator
Profile picture of Jon Ossoff
C
Jon Ossoff(D) Senator

Voted For (0)
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Voted Against (0)
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