House Democrats Introduce Legislation to Curb Trump'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.

The Integration of Food Stamps (SNAP) with cryptocurrency has been a topic of discussion and debate. Proponents argue that it could provide efficient and accessible access to benefits for recipients, while opponents express concerns about privacy, security, and the potential for abuse.

In 2023, the bipartisan Infrastructure Bill included provisions for the integration of digital assets into food stamps, aiming to introduce new technologies and streamline the program. However, the integration process was ultimately delayed.

During his presidential campaign, Trump had expressed support for cryptocurrency and Bitcoin. He appointed pro-crypto officials to his administration and engaged in conversations with industry figures like Mike Novogratz.

Despite Trump's interest, the administration did not introduce any significant crypto policies. The administration's focus was on broader economic issues such as the COVID-19 pandemic and the 2020 presidential election.

It's important to note that the administration did not face any legal constraints on its ability to introduce crypto policies. However, the administration's priorities and the political climate at the time did not favor such initiatives.

The Trump administration's legacy in terms of cryptocurrency is mixed. On the one hand, it appointed pro-crypto officials and engaged in conversations with industry figures. On the other hand, the administration did not introduce any significant crypto policies and its focus was on broader economic issues. Ultimately, the administration had the legal ability to introduce crypto policies but chose not to do so.

In 2024, as the presidential campaign heated up, Trump faced a new opponent: a memecoin named TRUMP. The token, which launched on the Ethereum blockchain, quickly gained popularity among Trump supporters.

Holders of the TRUMP token were invited to attend an exclusive dinner with the president at his Virginia golf club, just hours before the gala, House Democrats unveiled new legislation aiming to curb 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 at Trump's Virginia golf club, collectively spent nearly $400 million on the token.

The bipartisan Infrastructure Bill, passed in 2023, included provisions for integrating digital assets into food stamps to introduce new technologies and streamline the program. However, the integration process was ultimately delayed.

Earlier this year, a report by the Economic Policy Institute (EPI) highlighted the urgent need for policies to mitigate the economic hardship faced by Black and Hispanic communities due to the COVID-19 crisis and to integrate food stamps with crypto technology.

The report, titled "The Long COVID-19 Recovery: Economic Hardship in Black and Hispanic Communities," emphasized the disproportionate impact of the pandemic on minority groups.

EPI researchers found that Black and Hispanic families were more likely to experience job losses, income declines, and evictions compared to white families. They also had less access to government aid programs, such as unemployment benefits and stimulus checks.

"Despite the bipartisan Infrastructure Bill, which included provisions for integrating digital assets into food stamps to introduce new technologies and streamline the program, the process has been delayed," a press release from EPI noted.

The report's findings underscored the persistent racial and economic inequalities in the U.S., even as the overall economy showed signs of recovery.

"The COVID-19 crisis has had a devastating impact on the U.S. economy, but the recovery has been uneven, leaving Black and Hispanic families with a smaller share of the gains," said researchers. "This analysis reveals the urgent need for policies that will mitigate the economic hardship faced by these communities and integrate food stamps with crypto technology."output: Politicians in the U.S. are introducing legislation to restrict President Donald Trump's involvement in cryptocurrency.

Hours ahead of a private gala dinner that President Trump will be hosting for the top holders of his TRUMP memecoin at his Virginia golf club, House Democrats unveiled new legislation aiming to curb the president's involvement in digital assets, reports The Block.

The move comes as Trump continues to engage with the crypto community and accept memecoin donations at his campaign.

At the gala, which will be held on Thursday evening at Trump's golf club