- Democrats have introduced the “Stop TRUMP in Crypto Act” to curb presidential profiteering from digital assets
- The bill aims to prevent the president and immediate family from launching, promoting, or profiting from cryptocurrencies while in office
- The legislation responds to ethical concerns over President Trump’s crypto ventures and exclusive events for top token holders
House Democrats have unveiled the “Stop TRUMP in Crypto Act of 2025,” targeting potential conflicts of interest arising from President Trump’s involvement in cryptocurrency ventures. The bill seeks to prohibit the president, vice president, members of Congress, and their immediate families from engaging in activities related to digital assets that could result in personal financial gain during their tenure. This legislative action follows mounting criticism over President Trump’s promotion of his $TRUMP meme coin and associated exclusive events, and came ahead of Trump’s private dinner with the biggest holders of his coin.
Legislative Push Against Presidential Crypto Engagement
Representative Maxine Waters (D-CA), leading the initiative, emphasized the urgency of addressing what she describes as a “scam and abuse of power.” The proposed legislation would bar covered officials from issuing, sponsoring, promoting, or receiving compensation from digital assets. It also restricts trading digital assets based on non-public information. The bill has garnered support from 14 other Democrats on the House Financial Services Committee.
The introduction of the bill coincides with President Trump’s private dinner at his Virginia golf club, attended by the top 220 holders of his $TRUMP meme coin. Critics argue that such events allow wealthy individuals, potentially including foreign nationals, to gain privileged access to the president, raising questions about transparency and national security. Notably, Chinese-born crypto billionaire Justin Sun, previously under investigation by U.S. authorities, is among the confirmed attendees. The dinner is closed to the media.
Calls for Transparency and Accountability
Democratic lawmakers have expressed concerns that President Trump’s crypto activities could undermine public trust and violate ethical standards, with Senator Elizabeth Warren describing the situation as an “orgy of corruption” and highlighting the lack of disclosure regarding attendees of the exclusive dinner. Senator Richard Blumenthal suggested that the event effectively places a “for sale” sign on the White House, allowing individuals to buy influence through cryptocurrency investments.
The controversy surrounding President Trump’s crypto ventures has also impacted the legislative process for broader cryptocurrency regulation. Democrats are advocating for amendments to existing bills, such as the GENIUS Act, to include provisions that prevent elected officials from profiting from digital assets while in office, while Senator Jeff Merkley warned that without such safeguards, legislation could inadvertently legitimize the monetization of political access. In April, Donald Trump’s House Financial Services Committee Chair, French Hill, admitted that Trump’s engagement in cryptocurrency ventures has introduced complexities into the legislative process aimed at regulating the digital asset sector.
As debates over cryptocurrency regulation continue, the “Stop TRUMP in Crypto Act of 2025” represents a significant effort by Democrats to enforce ethical standards and prevent potential conflicts of interest at the highest levels of government.
