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Representative Maxine Waters, ranking member of the House Financial Services Committee, has introduced the Stop Trading, Retention, and Unfair Market Payoffs (TRUMP) in Crypto Act of 2025 (HR 3573). This legislation aims to prevent the President, Vice President, members of Congress, and their families from participating in cryptocurrency-related activities deemed as “crypto crime.”
The bill’s introduction follows concerns raised by Rep. Waters regarding President Trump’s involvement with cryptocurrencies. These concerns center on several key events: the January release of personal memecoins by President Trump and his wife, Melania; the launch of a stablecoin, USD1, by the Trump family through World Liberty Financial; and the President’s attempt to establish a national Bitcoin reserve, coupled with his sons’ support of a Bitcoin mining venture.
Rep. Waters explicitly alleges that President Trump is using his memecoin to enrich himself and his family, rewarding top donors with a private dinner. She characterizes this as not just a scam targeting investors but also a dangerous method of selling influence over American policies to foreign entities. The representative’s statement highlights the potential for corruption and undue influence stemming from the President’s cryptocurrency activities.
The bill’s introduction is part of a broader effort to oppose the aforementioned dinner event intended to reward memecoin holders. This opposition includes Senator Chris Murphy and Senator Elizabeth Warren, who are scheduled to participate in a press event with representatives from Public Citizen, a consumer advocacy group. Furthermore, two Democratic organizations plan to stage a protest at the Trump National Golf Club, the location of the planned dinner.
The situation remains fluid, with further details expected as the story develops. The proposed legislation represents a significant step in the ongoing debate surrounding the intersection of politics and cryptocurrency, specifically addressing concerns about potential conflicts of interest and the use of cryptocurrencies for illicit purposes. The bill’s success will hinge on its passage through Congress, a process that will likely involve substantial debate and scrutiny.
