Landmark legislation will put an end to Trump’s crypto corruption and protect America’s investors.
Bill prohibitions extend to Members of Congress.
Waters introduces bill HOURS before Trump’s corrupt memecoin dinner.
Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee and Committee Democrats introduced H.R. 3573, the “Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025” or the “Stop TRUMP in Crypto Act of 2025,” which would prevent the President, Vice President, Members of Congress, and their immediate families from owning a proportion of a digital asset that would allow them to unilaterally make changes to the digital asset; serving as an officer, director, or owner of a digital asset issuer; issuing, sponsoring, promoting, or receiving compensation for the sale, marketing, or mining of digital assets; or trading digital assets while in office, if the covered individual has material non-public information about digital assets.
This legislation comes just hours before President Trump is set to host an exclusive memecoin dinner at his luxury golf resort, in which attendees have spent millions of dollars to secure a seat. In the 24 hours leading up to the event, the value of Trump’s personal cryptocurrency, $TRUMP, has surged—further highlighting concerns of corruption.
Since returning to office, President Trump has used the power of the presidency to shamelessly promote and profit from a series of crypto ventures tied to himself and his family. This includes his personal $TRUMP memecoin which reportedly inflated his wealth by over $350 million while defrauding investors of billions; his wife, Melania Trump’s $MELANIA memecoin, linked to insider profits nearing $100 million; and the launch of a Trump-backed stablecoin, USD1 – through his family’s crypto company, World Liberty Financial – which has raised concerns regarding foreign deals and their potential impact on national security. Moreover, Trump’s sons, Eric and Donald Trump Jr., recently launched a Bitcoin company while Trump ordered the Treasury to create a Bitcoin Reserve – all moves that appear designed to boost the value of assets held by Trump and his allies, using taxpayer dollars.
“Donald Trump is preparing to dine with the top donors of his memecoin who’ve made him, and his family, richer. Meanwhile, American families are getting poorer and growing increasingly anxious under his failed leadership. Nowhere is Trump’s blatant disregard and disrespect for the rule of law more apparent than in the way he has exploited the office of the Presidency to promote shady, fraudulent crypto ventures that hold no real value, and serve no true purpose other than to pad his pockets,” said Congresswoman Waters. “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. For all we know, Russia, China, or even North Korea could be buying Trump’s crypto to secure favors from the White House. That’s why I’ve introduced the ‘Stop TRUMP in Crypto Act.’ This bill will stop Trump’s brazen crypto corruption and prevent any President, Vice President, Members of Congress, or their immediate families from exploiting crypto in this way. Enough is enough. Congress can no longer ignore the biggest scam and abuse of power in American history. I know my Republican colleagues fear Trump, but I urge them to stand with me and my Democratic colleagues to pass this bill and send a clear message that the White House is not a platform for personal profit.”
“President Trump’s disrespect for the rule of law is breathtaking. Never in American history has a sitting president so blatantly violated ethics laws and openly pushed an agenda for his own financial gain. President Trump and his family are exploiting the presidency to line their pockets through their personal crypto scam, World Liberty Financial. These corrupt actions, along with the volatile and risky nature of crypto, will have devastating consequences on Americans’ financial lives, and Congress cannot allow it to continue,” said Congressman Stephen Lynch, Ranking Member on the Digital Assets Subcommittee.
“Trump’s crypto schemes are a shameless abuse of power,” said Congresswoman Nydia Velázquez. “His $TRUMP coin has brought in over $350 million for him, while regular investors lost billions. Add to that the $MELANIA coin and the Trump-backed stablecoin tied to foreign interests, and you have a pattern of massive conflicts of interest that threaten both investors and national security. I’m proud to join Ranking Member Maxine Waters in cosponsoring legislation to end this kind of corruption once and for all.”
“The wealth of nations is reliant on one thing more than any other: whether the nation has an honest government. But, Trump and his family through their crypto coins have put the credibility of the United States up for sale to the highest bidder,” said Congressman Brad Sherman. “I am pleased to join Ranking Member Waters on this bill to prevent the President, Vice President, Members of Congress, and their families from using crypto to create a culture of corruption and sell out our country.”
“President Trump’s second presidency has brought corruption in this country to new heights. Nothing illustrates this more than President Trump’s meme coin. This bill is absolutely vital to ensure that future public servants and their families do not repeat President Trump’s ignominious example. I am proud to join Ranking Member Waters as an original cosponsor of this legislation, and I thank her for her leadership,” said Congressman Al Green.
“Whether accepting a $400 million jet as a personal gift or selling access to the White House through his various crypto schemes, President Trump’s ongoing and brazen corruption should have every American deeply concerned and demanding accountability,” said Congressman Emanuel Cleaver. “As Democrats in Congress seek to uphold the rule of law and ensure the president is not selling out the American people, I’m proud to cosponsor Ranking Member Waters’ proposal to prevent any president, regardless of political party, from using cryptocurrencies to personally profit while in office.”
“Trump’s meme coin has allowed him to use his position to further enrich himself—a blatant conflict of interest. Even worse, he's allowing top buyers, including foreign nationals, to purchase special access to the presidency via this cryptocurrency,” said Congressman Bill Foster. “This legislation is a commonsense measure to prevent this level of corruption from reaching our nation's highest office or the halls of Congress ever again.”
“Just four months into his second term, President Trump has made hundreds of millions in cryptocurrency ventures by shamelessly abusing the Presidency," said Congresswoman Joyce Beatty. “I’m proud to join Ranking Member Waters in this critical bill that will establish strict guardrails to prevent crypto-related corruption at the highest levels of the federal government and put a stop to President Trump's digital assets scams that pad his own pockets at the expense of hardworking American families.”
“The brazen lawlessness and corruption of the Trump Administration is staggering. It is completely unacceptable that shady business owners, corporations, or foreign actors can pour millions of dollars into a venture financially benefiting the President. We cannot allow public officials to use their positions to enrich themselves. I am proud to join Representative Waters in halting this crypto-fueled corruption,” said Congresswoman Rashida Tlaib.
“In just a few months, Donald Trump has turned the highest office in the land into the tackiest, most shameless grift of our lifetimes—peddling crypto scams while everyday Americans struggle to put food on the table. The mission is clear: Trump and his family get richer. You get poorer. That’s the whole plan—and it needs to stop. No American should ever have to wonder if the President is working for them or just for himself. I’m proud to join Ranking Member Waters to lead one of the most common-sense bills of the year—one that cracks down on Trump’s addiction to corruption and stops this crypto gateway drug from infecting the halls of Congress,” said Congresswoman Sylvia Garcia.
Committee Democratic co-sponsors: Ranking Member Waters, Representatives Velázquez, Sherman, Meeks, Lynch, Green, Cleaver, Foster, Beatty, Vargas, Casten, Tlaib, Torres, Garcia, Fields.
Supporting organizations: Accountable.US/ Accountable.NOW, Americans for Financial Reform, Chastity C. Murphy (Visiting Research Fellow, University of Manchester Law and Technology Initiative), Consumer Reports, Democrats Defenders Action, Public Citizen.
See the bill text HERE.
See the one-pager HERE.
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