California Consultant Maxine Waters, rating member of the US Home Monetary Providers Committee, has introduced plans to introduce laws “to dam [Donald] Trump’s memecoin and cease his crypto corruption.”
In a Could 22 discover, Rep. Waters stated the Cease Buying and selling, Retention, and Unfair Market Payoffs (TRUMP) in Crypto Act of 2025 invoice can be geared toward blocking the US President, Vice President, members of Congress, and their households from participating in “crypto crime.” The US lawmaker referred to Trump and his spouse, Melania, issuing private memecoins in January, his household launching a stablecoin, USD1, via the crypto platform World Liberty Monetary, and the president making an attempt to ascertain a nationwide Bitcoin (BTC) reserve as his sons again a BTC mining enterprise.
“Donald Trump is making ready to dine with the highest donors of his memecoin who’ve made him, and his household, richer,” stated Waters, including:
“Trump’s crypto con is not only a rip-off to focus on traders. It’s additionally a harmful backdoor for promoting affect over American insurance policies to the best international bidder.”
Waters’ invoice was one in every of many actions introduced to oppose the president’s dinner to reward memecoin holders. Senators Chris Murphy and Elizabeth Warren are anticipated to attend a press occasion with representatives for the buyer advocacy group Public Citizen, and two Democratic organizations will protest on the Trump Nationwide Golf Membership outdoors Washington, DC, the place the memecoin dinner shall be held.
It is a growing story, and additional info shall be added because it turns into out there.
