House Democrats are reportedly weighing a crypto bill that would expand the SEC's oversight of trading platforms and likely tighten limits on crypto dealings by President Donald Trump. According to three industry sources briefed by Democratic staffers, it would build on a 2025 measure by Representative Maxine Waters, which a House committee blocked from a floor vote. The earlier version would require platforms to offer round-the-clock customer service, insurance-style coverage, 24-hour withdrawals and monthly proof of reserves. The reported plan would also shift more authority to the SEC from the Commodity Futures Trading Commission. Disclosures reported by AFP put Trump's 2025 crypto income near $1.2 billion, and the White House denies any conflict. No bill text exists yet, and Republicans call it a messaging bill.
Why it matters: It shows how a future Democratic-led Congress could reshape oversight of crypto exchanges and ethics rules covering the president's digital asset holdings.
Summary by Dextape, based on reporting by BeInCrypto. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.
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