Just hours before U.S. President Donald Trump hosted an exclusive dinner for the top holders of his TRUMP memecoin at his Virginia golf club, House Democrats introduced new legislation aimed at curbing the president’s involvement in digital assets.

Rep. Maxine Waters of the House Financial Services Committee introduced the Stop TRUMP in Crypto Act of 2025, which would bar top White House officials from issuing or promoting digital assets, earning profits from crypto ventures, and trading digital assets based on non-public, government-derived information.

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Waters and other Democrats argue that Trump’s growing crypto activity, controlled by entities tied to his family business, opens the door for foreign actors to buy influence and for the president to profit from his office.

The top 220 holders of the president’s TRUMP memecoin who attended the private gala dinner collectively spent nearly $400 million on the token.