Democrats’ New Crypto Bill Could Turn the SEC Against the Industry and Target Trump

After winning both chambers Tuesday, House Democrats are discussing a crypto bill that would expand the Securities and Exchange Commission’s supervisory power over trading platforms and likely add ethics rules restricting crypto activity by Trump. The plan builds on Rep. Maxine Waters’ 2025 Crypto Investor and Consumer Bill of Rights, which the House Rules Committee blocked 4–8; it would require platforms to offer 24/7 customer service, insurance-like coverage, withdrawals within 24 hours and monthly auditor-checked reports showing they hold customer assets. Trump earned $1.2 billion from crypto in 2025, including nearly $550 million from World Liberty Financial, and the White House denies any conflict. Republicans call it a messaging bill, and passage would require 60 Senate votes and Trump’s signature.