US Lawmaker Aims to Block Trump’s Crypto Activities with New Bill
In a move to increase crypto regulation, California Representative Maxine Waters has announced plans to introduce a bill targeting former President Donald Trump’s involvement in the crypto space. The proposed legislation, named the Stop Trading, Retention, and Unfair Market Payoffs (TRUMP) in Crypto Act of 2025, seeks to prevent key government figures and their families from engaging in what she describes as “crypto crime.”
Details of the Proposed Legislation
According to a notice released on May 22, Rep. Waters’ bill is designed to block the US President, Vice President, members of Congress, and their families from participating in activities deemed “crypto crime.” This action follows concerns raised about Trump and his family’s ventures into the crypto market, including the launch of memecoins, a stablecoin called USD1 through World Liberty Financial, and discussions about establishing a national Bitcoin (BTC) reserve.
Waters stated, “Donald Trump is preparing to dine with the top donors of his memecoin who’ve made him, and his family, richer. Trump’s crypto con is not just a scam to target investors. It’s also a dangerous backdoor for selling influence over American policies to the highest foreign bidder.”
Broader Opposition to Trump’s Crypto Involvement
Waters’ bill is part of a larger effort to oppose President Trump’s engagement with memecoin holders. Senators Chris Murphy and Elizabeth Warren are reportedly planning to attend a press event with Public Citizen representatives. Additionally, two Democratic organizations are set to protest at the Trump National Golf Club outside Washington, DC, where a memecoin dinner is scheduled to take place.
As reported by the House Financial Services Committee Democrats, this is a developing story.
Conclusion
The introduction of the Stop TRUMP in Crypto Act of 2025 highlights the growing scrutiny of political figures’ involvement in the cryptocurrency market. The proposed legislation reflects concerns about potential conflicts of interest and the need for greater transparency and regulation within the crypto industry. This comes as discussions around Ethereum and other altcoins continue to gain traction.
Disclaimer
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