U.S. Representative Maxine Waters introduced a new bill today. It targets President Donald Trump and his crypto activities. The bill’s title is the “Stop TRUMP in Crypto Act of 2025.” It aims to block government officials and their families from dealing with digital assets.
Waters introduced it a few moments before Donald Trump’s private dinner party for his top meme coin holders. The bill would prohibit the president and vice president and all legislators from issuing, holding or promoting any cryptocurrency. And their immediate family would be subject to the same restriction.
It also aims to make trading digital assets based on secret, non-public information illegal. Waters acted expeditiously on this bill. She wished to shed light on Trump’s dinner, which has a press exclusionary policy. The opposition argues this event may be a means of introducing a backdoor for foreign influence.
Trump Family crypto deals backed by Justin Sun
One attendee, crypto billionaire Justin Sun, comes with controversy. He has invested millions in Trump’s coin and another Trump family crypto business. Sun has faced legal issues before, including fraud charges by the SEC.
There has been concern about Trump’s cryptocurrency enterprises. Ever since his return to office, he and his associates have reaped enormous unrealized profits from cryptocurrency. Waters and fellow Democrats are also concerned about national security threats posed by cryptocurrency. They fear foreigners may leverage cryptocurrency to obtain access to the White House.
The bill prohibits Trump from starting, promoting, or profiting from any virtual asset during his term in office. It also prevents him from trading any cryptocurrency when he has secret inside information about it.
Republicans oppose crypto legislation
Over the last few months, both have become involved in the cryptocurrency space. Melania Trump even started her meme coin. Both of Trump’s sons heavily invested in multiple cryptocurrency ventures. Waters gained backing from the majority of the House Financial Services Committee’s Democrats.
Republicans haven’t supported any of those bills yet. Waters already staged a walkout at a meeting about cryptocurrency a few weeks ago. That move sought to pressure Congress to intervene and prevent politics from getting involved in business.
This bill now faces a contentious and split legislative path. While lawmakers develop wider cryptocurrency regulations, Trump’s increasing visibility in the cryptocurrency space continues to raise alarm bells. The lawmakers must act now before things get out of hand any further, Waters maintains.
