Growing bipartisan efforts to regulate cryptocurrency in the U.S. have hit a major roadblock: unresolved conflicts of interest involving President Donald Trump and his family’s digital asset ventures. Lawmakers argue that these entanglements are blocking much-needed legislative support, especially from the Democratic side.

Rep. Angie Craig (D-Minn.) recently highlighted her party’s deep reservations about advancing crypto market structure reforms while the sitting president continues to actively participate in and profit from the sector. Craig, speaking at the SALT conference in Jackson Hole, underscored that any legislation would need strong conflict of interest provisions to win broader Democratic backing. For Craig and others, the idea that a President—or their immediate family—can launch meme coins like $TRUMP or $MELANIA and directly benefit from ongoing promotion and policy is fundamentally problematic.

Since returning to office in January, President Trump and his family have expanded their business footprint in digital assets, building multimillion-dollar enterprises, launching tokens, and co-founding companies tied to crypto mining. These activities, including the creation of the $TRUMP token and other ventures, have generated vast wealth for the Trump family and associates. Reports say entities tied to Trump gained hundreds of millions of dollars in transaction fees through promoting and managing these coins. Additional concerns revolve around foreign investments in these projects, raising the risk of influence peddling and national security questions.

The situation has led to calls for new laws, such as the proposed “Stop TRUMP in Crypto Act,” which aims to prevent presidents, members of Congress, and their families from engaging in personal crypto schemes. Supporters say meaningful regulations are required to stop market manipulation, insider trading, and conflicts of interest—ensuring no one in power can use their office to enrich themselves through digital assets.

As the Senate Banking Committee debates its version of crypto market structure legislation, Democrats and some Republicans stress the necessity of ethics safeguards. Until clearer conflict-of-interest rules are put in place, the path to consensus—and effective oversight of America’s rapidly expanding cryptocurrency market—will remain blocked.