- Rep. Maxine Waters introduced a bill to ban Trump and top officials from owning or promoting crypto while in office.
- The move follows Trump’s private dinner with top holders of his meme coin, including controversial figure Justin Sun.
- Waters’ bill highlights growing concerns over political crypto entanglements, but so far lacks Republican support.
Rep. Maxine Waters (D-CA) isn’t holding back. On Thursday, the longtime Democrat and top dog on the House Financial Services Committee introduced a fiery piece of legislation aimed squarely at—you guessed it—President Donald Trump. The bill, bluntly named the “Stop TRUMP in Crypto Act of 2025,” would bar not just the president, but also the VP, members of Congress, and their immediate family members from launching or owning crypto projects while in office.
Waters’ camp confirmed to Decrypt that the timing of the bill was no accident—it dropped just hours before Trump’s private dinner with the top 220 holders of his own meme coin. Media? Not invited.
“Trump’s about to dine with people who’ve made him, and his family, richer than ever,” Waters said. “We have no idea who’s funding this. Could be Russia, China… North Korea even. And they could be buying influence over the Oval Office with digital coins.”
She didn’t mince words: “Enough is enough. Congress can’t just sit on its hands while the biggest abuse of power in modern American politics plays out.”
A Dinner with Billionaires and… Justin Sun?
The guest list for this crypto-rich dinner party hasn’t been fully released, but it’s already raising eyebrows. One confirmed attendee? Justin Sun. The controversial crypto billionaire from China who’s been under the microscope for years. He’s been investigated by the DOJ, sued by the SEC, and somehow—still managed to stay relevant.
Lately, he’s been throwing around big numbers—over $22 million spent on Trump’s meme coin and millions more into another Trump family-backed venture, World Liberty Financial. The kicker? The SEC recently hit pause on their case against him, saying they want to explore a “potential resolution.” Convenient timing?
The Bill’s Details: No Tokens, No Loopholes
Waters’ new bill aims to shut this down entirely. If passed, it would ban Trump from issuing, marketing, trading, or profiting from any crypto asset while he’s in office. That includes anything with material non-public info—aka insider knowledge. And the restrictions don’t stop with him. His spouse, kids, and their spouses? They’d all be covered too.
This comes after a flurry of activity from the Trump camp. Melania dropped her own meme coin. Eric and Don Jr.? They’ve been all-in on crypto startups lately, snapping up equity left and right.
Fourteen other Democrats on the Financial Services Committee have already signed onto the bill. Still, not a single Republican has backed it so far.
Crypto Regulation in Limbo—Again
The bigger picture here? Crypto legislation in D.C. is stuck in a weird limbo. A handful of bipartisan bills aimed at laying down a real framework for digital assets have been slowly inching forward—but Trump’s growing presence in the space keeps throwing a wrench into things.
Earlier this month, Waters actually led a full-on Democratic walkout during a crypto committee meeting, blasting what she called “Trump’s crypto corruption.” She wanted language added to force the president to divest his holdings. That didn’t happen.
So now? She’s taking matters into her own hands.
Similar bills—like the MEME Act—have popped up recently, also aimed at keeping elected officials from profiting off crypto hype while in power. But without any Republican support, they’ve gone nowhere fast.
