Waters bill targets ‘crypto corruption’ hours before Trump’s memecoin gala.
Waters Unveils ‘Crypto Corruption’ Bill Just Hours Before Trump’s Memecoin Gala
Just hours before President Donald Trump’s high-profile gala for top $TRUMP memecoin holders, Rep. Maxine Waters introduced a sweeping bill aimed at curbing what she calls “crypto corruption” in Washington.
Backed by 14 Democratic co-sponsors, the Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025 seeks to bar the president, vice president, lawmakers, and their immediate families from holding influential stakes in digital assets or making financial gains from them while in office.
“Trump’s crypto con isn’t just a scam targeting investors,” Waters said. “It’s a dangerous channel for foreign actors like Russia or China to buy influence in U.S. politics through digital tokens.”
The bill comes amid growing scrutiny of Trump’s involvement in the crypto world. In recent months, Trump, along with former First Lady Melania Trump, launched their own memecoins, and Trump-backed World Liberty Financial debuted its own stablecoin.
The same evening, Trump is hosting a lavish $TRUMP gala at his private golf club near Washington D.C., with entry costs ranging from $55,000 to $37.7 million, depending on token holdings. Attendees include high-profile names like crypto entrepreneur Justin Sun, who confirmed his attendance on X, praising the president and calling himself his “TOP fan.”
Waters' legislation would also prohibit public officials from issuing, endorsing, or trading digital assets while privy to non-public information. Supporters of the bill include Reps. Nydia Velázquez, Brad Sherman, Ritchie Torres, Al Green, Stephen Lynch, and Rashida Tlaib.
“President Trump’s second term has redefined corruption in America,” said Rep. Green. “His meme coin is the perfect symbol of that. This bill is essential to prevent future leaders from following in his footsteps.”