New bill aims to stop US officials from owning or promoting crypto while holding public office.
Trump’s crypto dinner sparks concern over possible financial influence from wealthy investors.
Lawmakers want to prevent conflicts of interest from digital asset trading by political leaders.
US Representative Maxine Waters has introduced a bill to block top officials from engaging in cryptocurrency activities while in office. The legislation, named the “Stop TRUMP in Crypto Act of 2025,” arrived just hours before a planned private crypto dinner hosted by Donald Trump.
https://twitter.com/USHouseFSC/status/1925625286818689066
The proposed law would ban the president, vice president, and members of Congress from issuing or owning digital assets. Immediate family members would also fall under these restrictions. The bill prohibits officials from receiving any form of compensation tied to the marketing, mining, or trading of cryptocurrencies.
Concerns Over Political Influence in Crypto
The bill directly responds to concerns about political figures using their influence for crypto gains. It also addresses the risk of trading digital assets based on confidential government information. The move comes amid increasing scrutiny over Trump’s growing presence in the cryptocurrency sector.
In January, Trump’s circle launched a meme-based cryptocurrency. Later, they introduced USD1, a stablecoin backed by the dollar and tied to World Liberty Financial. This project currently lacks clear federal oversight.
Dinner Event Draws Fresh Criticism
Trump’s crypto ventures have drawn criticism from lawmakers and watchdog groups. His private dinner with the top 220 holders of his meme coin raised further concerns. The event bars press access, and the guest list has not been fully disclosed.
Reports confirm Chinese-born crypto billionaire Justin Sun will attend the dinner. Sun has faced investigations by the Department of Justice and was sued by the SEC in 2023. He has purchased over $22 million worth of Trump’s meme coin. He also invested tens of millions in World Liberty Financial.
Push for Stronger Oversight
Waters’ bill seeks to close gaps in ethics rules that crypto has exposed. The legislation would ban sitting officials from launching or promoting digital assets for personal gain. It would also restrict trading while in possession of non-public government data.
The bill names Trump directly, reflecting his active role in multiple crypto ventures. Trump and his allies have made billions in unrealized gains from these assets. Some lawmakers fear foreign actors could exploit this access through financial contributions disguised as crypto investments.
Political Tensions Around Digital Currency
As the crypto industry expands, questions about ethics and national security continue to surface. The proposed legislation aims to ensure government officials stay free from conflicts of interest. The timing of the announcement adds pressure to Trump’s planned event, which remains closed to public scrutiny.
