Stephen F. Lynch

Rep. Lynch Introduces Bipartisan Legislation to Expand Affordable Housing Supply

Position: Rep. Lynch supports legislation to expand affordable housing supply by removing barriers to modular home construction financing through the Federal Housing Administration, citing modular housing's potential to reduce construction costs and increase homeownership accessibility for working families.

Washington, D.C. – Today, Rep. Stephen F. Lynch (MA-08) and Rep. Lisa McClain (MI-09), members of the House Financial Services Committee, introduced the Modular Housing Production Act, bipartisan legislation to facilitate the financing and construction of affordable housing nationwide. In particular, the bill would require the Department of Housing and Urban Development (HUD) to review all construction lending programs administered by the Federal Housing Administration (FHA) and promptly address barriers that currently limit construction financing for modular homes—highly-affordable single and multi-family dwellings that are built in sections and then assembled on a permanent site in accordance with state and local building codes. "Amid a national housing crisis that includes a severe shortage of more than 7 million affordable homes and single-family home prices that exceed the median household income five times over, the Modular Housing Production Act will better ensure that homeownership is attainable for America's working families," said Rep. Lynch. "With new innovations in technology and materials, today's modular housing presents a great opportunity to expand the availability of housing. As the Urban Institute and other nonprofit partners have reported to our Committee, the use of modular housing significantly reduces construction costs and building time and must be a key component of our national efforts to maximize home affordability for low and moderate-income families and first-time home buyers," added Rep. Lynch. "I am proud to introduce this bipartisan legislation with my colleague Rep. McClain, and I am grateful to Ranking Member Maxine Waters and Chairman French Hill of the Financial Services Committee for their continued leadership in support of housing affordability." "Washington's outdated rules have made it too hard for families to buy a safe, affordable home. This bill cuts the pointless red tape and drives costs down for hardworking families. This is a commonsense fix that delivers more options and a fair shot at the American Dream," Rep. McClain said. The Modular Housing Production Act would specifically: The Modular Housing Production Act has also been introduced by Sen. Elizabeth Warren (D-MA) as part of the bipartisan Road to Housing Act that passed the U.S. Senate in October of 2025. Permalink: https://lynch.house.gov/2025/11/rep-lynch-introduces-bipartisan-legislation-to-expand-affordable-housing-supply Washington, DC Office 2109 Rayburn HOB Washington, DC 20515 Phone: (202) 225-8273 Fax: (202) 225-3984 Boston Office One Harbor Street, Suite 101 Boston, MA 02210 Phone: (617) 428-2000 Fax: (617) 428-2011 Brockton Office 37 Belmont Street, 2nd Floor, Suite 3 Brockton, MA 02301 Phone: (508) 586-5555 Fax: (508) 580-4692 Quincy Office 1245 Hancock Street, Suite 41 Quincy, MA 02169 Phone: (617) 657-6305 Fax: (617) 773-0995

Rep. Stephen F. Lynch Demands Investigation into “Border Czar” Tom Homan for Bribery and other Federal Crimes

Permalink: https://lynch.house.gov/2025/9/rep-stephen-f-lynch-demands-investigation-into-border-czar-tom-homan-for-bribery-and-other-federal-crimes Washington, DC Office 2109 Rayburn HOB Washington, DC 20515 Phone: (202) 225-8273 Fax: (202) 225-3984 Boston Office One Harbor Street, Suite 101 Boston, MA 02210 Phone: (617) 428-2000 Fax: (617) 428-2011 Brockton Office 37 Belmont Street, 2nd Floor, Suite 3 Brockton, MA 02301 Phone: (508) 586-5555 Fax: (508) 580-4692 Quincy Office 1245 Hancock Street, Suite 41 Quincy, MA 02169 Phone: (617) 657-6305 Fax: (617) 773-0995

Reps. Lynch and Waters Announce Anti-Crypto Corruption Week

Position: Representatives Lynch and Waters oppose three pieces of cryptocurrency legislation: the CLARITY Act, the GENIUS Act, and an anti-CBDC bill. They argue these bills lack consumer protections, create national security risks, and facilitate cryptocurrency fraud while benefiting President Trump's financial interests.

Washington, D.C. - Today, U.S. Representatives Stephen F. Lynch (MA-08), the Ranking Member of the Subcommittee on Digital Assets, and Maxine Waters (CA-43), the top Democrat on the House Financial Services Committee, announced that next week will be "Anti-Crypto Corruption Week" during which they will lead Democrats in opposition to Republicans' efforts to jam through the House three dangerous pieces of crypto legislation, including the so-called "CLARITY Act," the "GENIUS Act," and a bill banning a central bank digital currency. Together, these bills pave the way for massive crypto fraud and legitimize President Trump's crypto corruption, which has already netted him a staggering $1.2 billion. "My Republican colleagues are eager to continue doing the bidding for the crypto industry while conveniently ignoring the vulnerabilities and opportunities for abuse that exist in crypto – especially given President Trump's acceptance of billions of dollars in investment in his family crypto business from foreign governments and his blatant conflicts of interest," said Congressman Lynch. "The Republican-led, 'CLARITY Act' and the Senate's 'GENIUS Act' will not only further President Trump's corruption, but expose our financial stability, national security, and consumer protections to greater risk. Meanwhile the 'Anti-CBDC Surveillance State Act,' will shackle U.S. Government research while giving China another opportunity to capitalize on a new technology. The volatile and risky nature of crypto products and the lack of investor protections will likely have devastating consequences on Americans' financial lives, and Congress cannot allow it to undermine our traditional financial markets which are the envy of the world. President Trump's blatant violation of ethics laws and exploitation of the Presidency to sell baseball hats, sneakers, commemorative coins, fragrances, watches, jewelry, musical instruments, T-shirts, and Bibles as well as crypto to fill his own pockets is a disgrace and cannot go unchecked." "Just days after passing one of the most egregious billionaire giveaways in American history and ripping basic needs away from American families, Republicans are at it again. They're doubling down by fast-tracking a dangerous package of crypto legislation through Congress," said Congresswoman Waters. "Aside from lacking urgently needed consumer protections and national security guardrails, these bills would make Congress complicit in Trump's unprecedented crypto scam – one that has personally enriched himself, his entire family, and the billionaire insiders in his cabinet, all while defrauding investors. Worse still, these bills serve as a brazen stamp of approval for the blatant abuse of power we're witnessing in real time. And the irony couldn't be more glaring: the same Republicans who rail against a government-backed digital dollar in the name of 'freedom' are now rushing to hand over the keys to Americans' financial future to Trump's illegal and corrupt crypto empire. Republicans are sending a clear message to the American people that they are unwilling to stand up to the crypto lobby, and even more disturbingly, that they are too cowardly to stand up to the President. Well, Democrats are not afraid, and will spend this week reminding the public of the true cost of this corruption. Our message is clear: we will not allow the financial system to become a vehicle for self-dealing, lawlessness, and abuse of power. The stakes for consumers, investors, and our democracy could not be higher." This effort builds on the relentless work Committee Democrats have carried out over the last few months to call attention to Trump's crypto crimes: Under the leadership of Congresswoman Waters, this Committee has a long history of exploring crypto regulation. After assuming chair in 2019, Waters responded to the emergence of new technologies in the financial services industry by establishing Congress' first-ever Task Forces on Financial Technology and Artificial Intelligence. Under the leadership of Task Force Chairs, Stephen Lynch and Bill Foster, respectively, Committee Democrats led the way to encourage equitable and responsible innovation and ensure that regulators and the law are adapting to the changing landscape to best protect consumers, investors, and small businesses. Waters also established the Digital Assets Working Group composed of Members of the Committee's Democratic caucus to specifically dive deeper into digital assets, holding a variety of discussions with key government officials, industry representatives, academic experts, and consumer and investor advocates. The Task Forces held a total of 22 hearings across the 116th and 117th Congresses. Permalink: https://lynch.house.gov/2025/7/reps-lynch-and-waters-announce-anti-crypto-corruption-week Washington, DC Office 2109 Rayburn HOB Washington, DC 20515 Phone: (202) 225-8273 Fax: (202) 225-3984 Boston Office One Harbor Street, Suite 101 Boston, MA 02210 Phone: (617) 428-2000 Fax: (617) 428-2011 Brockton Office 37 Belmont Street, 2nd Floor, Suite 3 Brockton, MA 02301 Phone: (508) 586-5555 Fax: (508) 580-4692 Quincy Office 1245 Hancock Street, Suite 41 Quincy, MA 02169 Phone: (617) 657-6305 Fax: (617) 773-0995

U.S. Reps. Lynch, Courtney and Golden Join IAM Union and Boston Ship Repair to Call for Urgent Investments in U.S. Shipbuilding and Repair

Position: The representatives call for increased federal investments in U.S. shipbuilding and repair capacity to address national security concerns, maintain naval superiority, and support domestic commercial shipping. They support the bipartisan SHIPS for America Act and trade measures to incentivize U.S.-built vessels.

Boston, MA - U.S. Representatives Stephen F. Lynch (D-MA), Joe Courtney (D-CT) and Jared Golden (D-ME) joined the IAM Union and Boston Ship Repair leadership yesterday to call for urgent investments to save the U.S. shipbuilding and repair industries. Joined by IAM Union-represented workers at Boston Ship Repair, the coalition of elected officials, union leaders and shipyard management highlighted the national and economic security risk posed by a dwindling U.S. shipbuilding and repair industry. Currently, about 80 U.S.-flagged ships are engaged in international commerce compared to over 5,500 China-flagged vessels. China recently overtook the U.S. in Navy fleet size. "Our ship-building and ship-repair industries have a tremendous impact on our national security and our ability to maintain freedom of navigation for all nations," said Rep. Lynch. "Today we are facing a critical shortage among our U.S. shipbuilding and repair capacity, and we are falling behind in production and upkeep of both our commercial and naval vessels. We must continue to make substantial federal investments in our shipyards and ship-repair facilities in order to maintain our position in the world. I am grateful to my congressional colleagues, U.S. Rep. Joe Courtney (D-CT) and Jared Golden (D-ME) for traveling to Boston Ship Repair in South Boston today to join me to show support for our shipbuilding and ship-repair industry. My thanks as well to International Machinists Union VP David Sullivan, BSR owner Jon Cronin, CEO Ed Snyder, and IAM Local President Andre Lavertue and all the union members of the IAM for their continued support of our regional ship-repair industry." "Revitalizing American shipbuilding is critical to our national and economic security. It's a bipartisan goal in Washington, and we need to use all of our available shipyard capacity to get the job done if we're going to deliver on it," said Rep. Courtney. "We must provide American shipyards and shipbuilders, like Boston Ship Repair, with the demand they need to make investments in their future and the future of our domestic shipbuilding industry." "America needs strong shipyards. On the defense front, we are lagging in the production of American warships necessary to meet current and future force needs. We also lack the commercial vessels we need to compete in the global economy," Rep. Golden said. "The reality is simple: If we aren't giving work to the men and women who power America's shipyards, they will find new jobs and we will fall further behind. Congress needs to keep up demand for warships to sustain the world's greatest Navy and we need to pass the SHIPS Act to strengthen our shipyards, our commercial fleet and our supply chains. Our future demands it." The group has backed U.S. Trade Representative penalties on Chinese ships and steps to incentivize the production and purchase of U.S.-built vessels. They are also championing the bipartisan SHIPS for America Act, which would rebuild the U.S. shipyard base and invest in recruitment and training of shipyard workers and mariners. The coalition is highlighting the need to efficiently utilize and grow domestic shipbuilding and repair capacity to increase the workforce at Boston Ship Repair and across the country. "American national and economic security depends on urgent and long overdue investments in our shipbuilding and repair industry," said IAM Union Eastern Territory General Vice President David Sullivan. "That's why the IAM Union has led the way toward tougher trade rules on China, much-needed investments in U.S. shipyard workers, and a strong call for the efficient use of our existing shipyards, like Boston Ship Repair. We're incredibly grateful for our champions in this fight, including Congressmen Lynch, Courtney and Golden." "We've invested in Boston Ship Repair because we believe in its potential—not just as a business, but as a critical national asset," said Boston Ship Repair Owner Jon Cronin. "With a highly skilled union workforce, proven infrastructure, and the experience to deliver, BSR stands ready to be part of the solution to America's shipyard capacity crisis. But we can't do it alone. Without consistent work and federal investment, this vital facility—and the hundreds of jobs it sustains—are at risk. We're calling on Congress and the Navy to recognize BSR not just as a shipyard, but as a strategic pillar of the defense industrial base. With immediate support, we can expand our capacity, modernize our infrastructure, and begin reducing the Navy's repair backlog today—while preserving American maritime strength for generations to come." "Our IAM Union members at Boston Ship Repair are skilled, dedicated workers who are proud to support our maritime missions," said IAM Union Local S25 President Andre Lavertue, a 30-year IAM Union member and crane operator at Boston Ship Repair. "But over the years, we've seen these jobs become less reliable and too often result in layoffs when work goes away. American shipyard workers are ready to reinvigorate this industry and win the future of global shipbuilding and repair." The IAM Union, which represents workers at Boston Ship Repair and shipbuilding and repair workers across the country, is leading the charge to restore U.S. shipbuilding by investing in American workers, as well as taking on predatory Chinese trade practices through a U.S. Trade Representative's Office investigation and supporting the bipartisan SHIPS for America Act. Boston Ship Repair has provided personalized services for domestic, international and government customers since 1995. It is one of the largest docks on the Eastern and Gulf Coasts and can handle vessels up to 1,000 feet with a 105 foot beam. Boston Ship Repair is committed to provide vessel maintenance, repair, overhaul and conversion services that are unsurpassed in the industry. Permalink: https://lynch.house.gov/2025/6/u-s-reps-lynch-courtney-and-golden-join-iam-union-boston-ship-repair-to-call-for-urgent-investments-in-u-s-shipbuilding-and-repair Washington, DC Office 2109 Rayburn HOB Washington, DC 20515 Phone: (202) 225-8273 Fax: (202) 225-3984 Boston Office One Harbor Street, Suite 101 Boston, MA 02210 Phone: (617) 428-2000 Fax: (617) 428-2011 Brockton Office 37 Belmont Street, 2nd Floor, Suite 3 Brockton, MA 02301 Phone: (508) 586-5555 Fax: (508) 580-4692 Quincy Office 1245 Hancock Street, Suite 41 Quincy, MA 02169 Phone: (617) 657-6305 Fax: (617) 773-0995

Congressman Lynch Hosts Congressional Public Housing Caucus Federal Affordable and Public Housing Forum

Congressman Lynch Hosts Congressional Public Housing Caucus Federal Affordable and Public Housing Forum (Brockton, Massachusetts) On Wednesday, June 18th, U.S. Representative Stephen F. Lynch (MA-08) hosted a Congressional Public Housing Caucus forum on federal affordable and public housing with Representative Emanuel Cleaver, II (MO-05), Representative Ayanna Presley (MA-07), Brockton Mayor Robert Sullivan in Brockton, MA. The forum was held at Massasoit Community College and brought together over 200 local and national housing organizations to discuss public housing challenges in MA and across the country. "From New England to the Heartland, American families in every community are struggling with our national housing affordability crisis, which is why we need an all-hands-on-deck approach to lower costs," said Congressman Cleaver. "As we work to defend federal housing programs from short-sighted and counterproductive cuts, I'm grateful to my Congressional Public Housing Caucus co-chair, Congressman Lynch, for hosting this critically important public conversation. I look forward to discussing the steps government can take – at the local, state, and federal level – to expand affordable housing production, strengthen public housing, and lower housing costs for Americans nationwide." "As proud products of public housing, Rep. Cleaver and I established this Caucus to work with local leaders, Non-Profit organizations, community advocates, and the business community to help address a national housing crisis that includes a shortage of more than 7 million affordable homes for America's working families." said Congressman Lynch. "We will continue to advocate for immediate federal action to increase funding for public housing, preserve and modernize existing housing, expand rental assistance, and advance other urgent priorities in this area. Special thanks to all who participated and attended, and for all you do on behalf of our communities." During the forum, presenters from housing organizations discussed the importance of public housing investments and actions they recommend Congress take to support public housing. The forum will feature a panel that discusses the context of the current environment for renters and federal housing program. Speakers included: A second panel discussed the current challenges, successes and need for federal action in public housing. Speakers included: Over 100 organizations will participate in the forum to help identify action steps that can be taken at the federal level to support affordable housing and public housing production and policy. Click here to watch a recording of the event. Permalink: https://lynch.house.gov/2025/6/congressman-lynch-hosts-congressional-public-housing-caucus-federal-affordable-and-public-housing-forum Washington, DC Office 2109 Rayburn HOB Washington, DC 20515 Phone: (202) 225-8273 Fax: (202) 225-3984 Boston Office One Harbor Street, Suite 101 Boston, MA 02210 Phone: (617) 428-2000 Fax: (617) 428-2011 Brockton Office 37 Belmont Street, 2nd Floor, Suite 3 Brockton, MA 02301 Phone: (508) 586-5555 Fax: (508) 580-4692 Quincy Office 1245 Hancock Street, Suite 41 Quincy, MA 02169 Phone: (617) 657-6305 Fax: (617) 773-0995

Acting Ranking Member Lynch’s Opening Remarks at Oversight Committee Hearing on 23andMe and Protecting Americans’ Sensitive Data

Position: The federal government should establish stronger regulatory oversight and protections for consumer genetic and personal data held by direct-to-consumer companies like 23andMe, particularly to prevent unauthorized sale or breach of sensitive data by hostile actors.

Washington, D.C. — Below is an opening statement, as prepared for delivery, from U.S. Representative Stephen F. Lynch, Acting Ranking Member of the Committee on Oversight and Government Reform. The remarks were delivered at today's Full Oversight and Government Reform Committee hearing on the bankruptcy filing of genetic testing company 23andMe, and its implications on the privacy of Americans' sensitive data. Click here to watch the video. "Thank you, Chairman Comer, for calling this hearing to examine the serious issue of how we can protect Americans' sensitive, personal data from hostile actors. 23andMe holds the genetic and biographical data of 15 million customers. This includes billions of phenotypic data points that make up DNA profiles, detailed genealogical and ancestry history, and health predispositions. While health care providers and insurance companies must follow federal laws like the Health Insurance Portability and Accountability Act, or HIPPA—which protect their sensitive data from unauthorized sharing—direct-to-consumer companies like 23andMe operate with minimal oversight and regulation. The lengthy, opaque terms of service and privacy policies that customers are required to agree to typically allow for their data to be sold during a sale or bankruptcy, and that is precisely the situation that millions of the company's customers find themselves in today. Americans deserve to know what the sale of 23andMe will mean for the sensitive genetic data it holds. But Chairman Comer demanded this hearing take place today, in the midst of the bankruptcy bidding process, when their witnesses are legally prohibited from speaking to any details related to the bankruptcy and sale. We will do our best to get answers despite this challenge. Our concerns are magnified by the fact that hostile actors, including foreign adversaries, are constantly attempting to buy or steal Americans' sensitive data. In 2023, 23andMe was the target of a massive breach in which an outside attacker stole the data of seven million customers, reportedly targeting those with Ashkenazi Jewish heritage. The governments of the People's Republic of China, the Russian Federation, North Korea, and Iran conduct persistent cyberattacks against the United States. China's President Xi Jinping has made clear that dominating the AI race and achieving global supremacy in biotechnology are critical to future geopolitical power, and obtaining vast troves of Americans' sensitive data is a key component of his strategy. Failing to safeguard Americans' data from these hostile actors would not only be a critical violation of privacy but also a national security catastrophe. Given the sensitive nature of the data that companies like 23andMe hold, the possibility for that data to end up in entirely new hands in the event of sale or bankruptcy, and the risk of data breaches, including by hostile foreign governments, we cannot rely solely on corporate efforts to ensure this data is protected. We need strong privacy protections and comprehensive laws and regulations that address the evolving landscape. That is where the federal government comes in. But instead of a strong federal government that makes every effort to protect Americans' sensitive data, the Trump Administration and DOGE are dismantling our IT and cybersecurity workforce and replacing hardworking civil servants with unqualified hacks. Just last week, President Trump installed a 22-year-old with no national security expertise to oversee a Department of Homeland Security hub for terrorism prevention. The Administration has spent the past five months weakening our leading cybersecurity and consumer protection agencies and purging the federal watchdogs who ensure government works for the people's interests. I condemn these efforts, and if Committee Republicans were serious about this hearing, they would too. If we are concerned about the security and privacy of Americans' sensitive data, we need a hearing examining the myriad ways that DOGE is violating cybersecurity and privacy laws and making our personal information easier to steal or use against us. We need a hearing on how and why DOGE installed a server of unknown nature and origin at the Office of Personnel Management—or the specialized computers that DOGE engineers are reportedly creating to merge Americans' data across agencies—with blatant disregard for federal laws that ensure Americans know when their data is being accessed and by whom. We need a hearing on the ways that DOGE has exposed critical federal systems to hostile foreign actors, and on the massive cuts to personnel that DOGE has made across the government—including at critical agencies like the Social Security Administration, which houses every American's social security number. Last week, Republicans on this committee voted again to shield Elon Musk from accountability for the destruction and danger he has wrought on Americans—quite possibly under the influence of hard drugs. But this is the Oversight Committee, and the American people deserve answers. We have weak privacy laws, persistent threats from foreign adversaries and Trump's own estranged top advisor, and a president who is, both intentionally and through incompetence, crippling the federal government's cybersecurity defenses, privacy safeguards, and oversight capabilities. This perfect storm leaves Americans' sensitive data vulnerable to breaches, exploitation, and surveillance. Americans—not private companies, hackers, or Elon Musk and DOGE—deserve to own their data and make the decision about how, where, and if their sensitive information is used. I hope my Republican colleagues will join us in taking a comprehensive approach to securing Americans' private data, because while it appears Americans can opt to delete their data from 23andMe, there are no options to delete their data from DOGE." Permalink: https://lynch.house.gov/2025/6/acting-ranking-member-lynch-s-opening-remarks-at-full-committee-hearing-on-23andme-and-protecting-americans-sensitive-data Washington, DC Office 2109 Rayburn HOB Washington, DC 20515 Phone: (202) 225-8273 Fax: (202) 225-3984 Boston Office One Harbor Street, Suite 101 Boston, MA 02210 Phone: (617) 428-2000 Fax: (617) 428-2011 Brockton Office 37 Belmont Street, 2nd Floor, Suite 3 Brockton, MA 02301 Phone: (508) 586-5555 Fax: (508) 580-4692 Quincy Office 1245 Hancock Street, Suite 41 Quincy, MA 02169 Phone: (617) 657-6305 Fax: (617) 773-0995

Rep. Lynch and Financial Services Democrats Introduce the Stop TRUMP in Crypto Act of 2025

Position: The release advocates for legislation that would prohibit the President, Vice President, Members of Congress, and their immediate family members from owning, trading, or profiting from digital assets while in office, particularly when they possess material non-public information or could unilaterally influence the asset.

Today, Congressman Stephen F. Lynch (MA-08), senior Democrat on the House Financial Services Committee and Ranking Member of the Digital Assets, Financial Technology, and AI Subcommittee, alongside Committee Democrats, introduced H.R. 3573, the Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025 or Stop TRUMP in Crypto Act of 2025, which would prevent the President, Vice President, Members of Congress, and their immediate family members from owning a proportion of a digital asset that would allow them to unilaterally make changes to the digital asset; serving as an officer, director, or owner of a digital asset issuer; issuing, sponsoring, promoting, or receiving compensation for the sale, marketing, or mining of digital assets; or trading digital assets while in office, if the covered individual has material non-public information about digital assets. This legislation comes just hours before President Trump is set to host an exclusive memecoin dinner at his luxury golf resort, for which attendees have spent millions of dollars to secure a seat. In the 24 hours leading up to the event, the value of Trump's personal cryptocurrency, $TRUMP, has surged—further highlighting concerns of corruption. Since returning to office, President Trump has used the power of the presidency to shamelessly promote and profit from a series of crypto ventures tied to himself and his family. This includes his personal $TRUMP memecoin which reportedly inflated his wealth by over $350 million while defrauding investors of billions; his wife, Melania Trump's $MELANIA memecoin, linked to insider profits nearing $100 million; and the launch of a Trump-backed stablecoin, USD1- through his family's crypto company, World Liberty Financial – which has raised concerns regarding foreign deals and their potential national security concerns. Moreover, Trump's sons, Eric and Donald Trump Jr., recently launched a Bitcoin company while Trump ordered the Treasury to create a Bitcoin Reserve – all moves that appear designed to boost the value of assets held by Trump and his allies, using taxpayer dollars. "President Trump's disrespect for the rule of law is breathtaking. Never in American history has a sitting president so blatantly violated ethics laws and openly pushed an agenda for his own financial gain. President Trump and his family are exploiting the presidency to line their pockets through their personal crypto scam, World Liberty Financial. These corrupt actions, along with the volatile and risky nature of crypto, will have devastating consequences on Americans' financial lives, and Congress cannot allow it to continue," said Congressman Stephen Lynch. "Donald Trump is preparing to dine with the top donors of his memecoin who've made him, and his family, richer. Meanwhile, American families are getting poorer and growing increasingly anxious under his failed leadership. Nowhere is Trump's blatant disregard and disrespect for the rule of law more apparent than in the way he has exploited the office of the Presidency to promote shady, fraudulent crypto ventures that hold no real value, and serve no true purpose other than to pad his pockets," said Congresswoman Waters. "Trump's crypto con is not just a scam to target investors. It's also a dangerous backdoor for selling influence over American policies to the highest foreign bidder. For all we know, Russia, China, or even North Korea could be buying Trump's crypto to secure favors from the White House. That's why I've introduced the 'Stop TRUMP in Crypto Act.' This bill will stop Trump's brazen crypto corruption and prevent any President, Vice President, Members of Congress, or their immediate families from exploiting crypto in this way. Enough is enough. Congress can no longer ignore the biggest scam and abuse of power in American history. I know my Republican colleagues fear Trump, but I urge them to stand with me and my Democratic colleagues to pass this bill and send a clear message that the White House is not a platform for personal profit." "Trump's crypto schemes are a shameless abuse of power," said Congresswoman Nydia Velázquez. "His $TRUMP coin has brought in over $350 million for him, while regular investors lost billions. Add to that the $MELANIA coin and the Trump-backed stablecoin tied to foreign interests, and you have a pattern of massive conflicts of interest that threaten both investors and national security. I'm proud to join Ranking Member Maxine Waters in cosponsoring legislation to end this kind of corruption once and for all." "The wealth of nations is reliant on one thing more than any other: whether the nation has an honest government. But, Trump and his family through their crypto coins have put the credibility of the United States up for sale to the highest bidder," said Congressman Brad Sherman. "I am pleased to join Ranking Member Waters on this bill to prevent the President, Vice President, Members of Congress, and their families from using crypto to create a culture of corruption and sell out our country." "President Trump's second presidency has brought corruption in this country to new heights. Nothing illustrates this more than President Trump's meme coin. This bill is absolutely vital to ensure that future public servants and their families do not repeat President Trump's ignominious example. I am proud to join Ranking Member Waters as an original cosponsor of this legislation, and I thank her for her leadership," said Congressman Al Green. "Whether accepting a $400 million jet as a personal gift or selling access to the White House through his various crypto schemes, President Trump's ongoing and brazen corruption should have every American deeply concerned and demanding accountability," said Congressman Emanuel Cleaver. "As Democrats in Congress seek to uphold the rule of law and ensure the president is not selling out the American people, I'm proud to cosponsor Ranking Member Waters' proposal to prevent any president, regardless of political party, from using cryptocurrencies to personally profit while in office." "Trump's meme coin has allowed him to use his position to further enrich himself—a blatant conflict of interest. Even worse, he's allowing top buyers, including foreign nationals, to purchase special access to the presidency via this cryptocurrency," said Congressman Bill Foster. "This legislation is a commonsense measure to prevent this level of corruption from reaching our nation's highest office or the halls of Congress ever again." "Just four months into his second term, President Trump has made hundreds of millions in cryptocurrency ventures by shamelessly abusing the Presidency," said Congresswoman Joyce Beatty. "I'm proud to join Ranking Member Waters in this critical bill that will establish strict guardrails to prevent crypto-related corruption at the highest levels of the federal government and put a stop to President Trump's digital assets scams that pad his own pockets at the expense of hardworking American families." "The brazen lawlessness and corruption of the Trump Administration is staggering. It is completely unacceptable that shady business owners, corporations, or foreign actors can pour millions of dollars into a venture financially benefiting the President. We cannot allow public officials to use their positions to enrich themselves. I am proud to join Representative Waters in halting this crypto-fueled corruption," said Congresswoman Rashida Tlaib. "In just a few months, Donald Trump has turned the highest office in the land into the tackiest, most shameless grift of our lifetimes—peddling crypto scams while everyday Americans struggle to put food on the table. The mission is clear: Trump and his family get richer. You get poorer. That's the whole plan—and it needs to stop. No American should ever have to wonder if the President is working for them or just for himself. I'm proud to join Ranking Member Waters to lead one of the most common-sense bills of the year—one that cracks down on Trump's addiction to corruption and stops this crypto gateway drug from infecting the halls of Congress," said Congresswoman Sylvia Garcia. Committee Democratic co-sponsors: Ranking Member Waters, Representatives Velázquez, Sherman, Meeks, Lynch, Green, Cleaver, Foster, Beatty, Vargas, Casten, Tlaib, Torres, Garcia, Fields. Supporting organizations: Accountable.US/ Accountable.NOW, Americans for Financial Reform, Chastity C. Murphy (Visiting Research Fellow, University of Manchester Law and Technology Initiative), Consumer Reports, Democrats Defenders Action, Public Citizen. See the bill text HERE. See the one-pager HERE. Permalink: https://lynch.house.gov/2025/5/rep-lynch-and-financial-services-democrats-introduce-the Washington, DC Office 2109 Rayburn HOB Washington, DC 20515 Phone: (202) 225-8273 Fax: (202) 225-3984 Boston Office One Harbor Street, Suite 101 Boston, MA 02210 Phone: (617) 428-2000 Fax: (617) 428-2011 Brockton Office 37 Belmont Street, 2nd Floor, Suite 3 Brockton, MA 02301 Phone: (508) 586-5555 Fax: (508) 580-4692 Quincy Office 1245 Hancock Street, Suite 41 Quincy, MA 02169 Phone: (617) 657-6305 Fax: (617) 773-0995