Democrats Introduce Bill to Combat Crypto Corruption
Just before President Donald Trump’s gala for his memecoin holders, Democrats took action. Led by Rep. maxine Waters, 15 House Democrats introduced a new bill. It aims to stop what they see as “crypto corruption” in Washington.
The “Stop Trading, Retention, and Unfair market Payoffs in Crypto Act of 2025” would ban the president, vice president, and Congress members from owning or promoting digital assets while in office.This includes their families. The bill also stops lawmakers from holding crypto in ways that let them control the tokens alone.
Waters said, “trump’s crypto is not just a scam. It’s a way to sell influence over American policies.”
The bill comes as Trump’s ties to crypto face criticism. He and his wife launched personal memecoins. His family backs a stablecoin and his sons are in a Bitcoin mining venture.
Protests are happening outside the gala. Critics say Trump is “auctioning” access to the White House. They also say it might break the Constitution’s ban on foreign gifts.
Senators Murphy, Warren, and Merkley, along with Rep. Liccardo, are calling out the event. They want the release of attendee names and any favors promised. murphy also supports his MEME Act, which aims to stop public officials from profiting from digital assets.
