Just hours before President Donald Trump’s high-profile gala for holders of his memecoin, Democratic lawmakers moved to curb what they call rising “crypto corruption” in Washington.
Led by Rep. Maxine Waters, 15 House Democrats introduced the “Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025.”
The bill would prohibit the president, vice president, members of Congress, and their immediate families from owning, promoting, or profiting from digital assets while in office.
Lawmakers would also be barred from holding crypto assets in ways that allow them to exert unilateral control over the tokens.
“Trump’s crypto con is not just a scam to target investors,” Waters said in a statement. “It’s also a dangerous backdoor for selling influence over American policies to the highest foreign bidder.”
The legislation arrives amid a wave of criticism surrounding Trump’s deepening ties to crypto. The president and his wife, Melania, recently launched personal memecoins.
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