California representative Maxine Waters, a ranking member of the U.S. House Financial Services Committee, has announced plans to introduce legislation “to block Trump’s Memecoin and stop crypto corruption.”
In a May 22 notice, Senator Waters said that the Crypto Act 2025 in return for suspension, maintenance and unfair markets (Trump) aims to ensure that the US president, vice president, members of Congress, and their families engage in “crypto crime.” US lawmakers issued personal memokine to Trump and his wife Melania in January, and his family launched Stubcoin, USD1 through the crypto platform World Liberty Financial, and the president attempted to set up the National Bitcoin (BTC) Reserve as a BTC mining venture for their sons.
“Donald Trump is preparing to eat with his top Memecoin donors, who have become richer,” Waters said.
“Trump’s Crypto Con is not a scam to target investors, and it is also a dangerous backdoor to sell its influence on American policy to the best foreign bidders.”
The Waters bill was one of many actions announced to reward Memocoin holders for opposing the president’s dinner. Senators Chris Murphy and Elizabeth Warren are expected to attend a press conference with public civic representatives of consumer advocacy groups, with two democratic organisations protesting at Trump National Golf Club outside of Washington, D.C., where Memocoin Dinner will be held.
This is a developing story, and more information will be added as it becomes available.
