Democrats Aim to Block Trump’s Crypto Deals Amid Gala Dinner

Rep. Maxine Waters of the House Financial Services Committee has introduced a new bill called the “Stop TRUMP in Crypto Act of 2025.” It comes just hours before a private dinner Trump is hosting tonight with the biggest holders of his memecoin. This bill, by its name, is meant to stop President Donald Trump, the vice president, members of Congress, and their families from creating or owning cryptocurrencies while in office. 

Rep. Waters said the bill is meant to highlight concerns about Trump’s growing involvement in crypto. “Donald Trump is preparing to dine with the top donors of his memecoin who’ve made him, and his family, richer,” Waters said, according to media reports.

Source: X

Waters warned that countries like Russia, China, or North Korea could be buying Trump’s crypto to get favors from the White House. She added, “Enough is enough. Congress can no longer ignore the biggest scam and abuse of power in American history.”

The bill would stop Trump and his family from issuing, promoting, or earning money from digital assets while he is president. It also bans trading cryptocurrencies based on secret information. This applies to Trump’s wife Melania, who launched her own meme coin recently, and his sons Eric and Don Jr., who have invested heavily in crypto startups.

A guest confirmed for Trump’s dinner is Justin Sun, a Chinese-born crypto billionaire who founded Tron blockchain. Sun has been under investigation for financial crimes and sued by the SEC for fraud and market manipulation. He has invested millions in Trump’s memecoin and another family crypto project called World Liberty Financial. The SEC paused its case against Sun this year to explore a possible settlement.

Democrats have worried for weeks that foreign actors might use Trump’s crypto events to gain secret access to him, bypassing U.S. campaign finance laws. Waters and other Democrats have protested Trump’s crypto deals, including a recent walkout from a House Financial Services Committee meeting. They want laws to force Trump to give up his crypto businesses while in office.

The bill currently has 15 sponsors from the House Financial Services Committee, all Democrats. Similar bills like the MEME Act have been introduced but haven’t gained Republican support.

Meanwhile, CFTC Commissioner Summer Mersinger recently announced she will leave the commission to join the Blockchain Association. In an interview on Bloomberg , she discussed futures trading in the U.S. and President Trump’s crypto policies.