House Democrats Take Aim at $TRUMP Meme Coin with New Legislation: MEME Act

• House Democrats propose a bill to prevent officials from profiting from digital assets.
• Rep. Liccardo’s MEME Act targets ethical concerns with politicians endorsing cryptocurrencies.
• The MEME Act includes retroactive penalties to address $TRUMP coin and similar ventures.

House Democrats are setting their sights on restricting public officials from benefiting financially from digital assets. A new bill aims to prevent top government officials, including the president, from issuing or endorsing cryptocurrencies, following concerns over the recent decline of the $TRUMP meme coin.

The $TRUMP cryptocurrency launched just over a month ago but has since lost significant value as early investors offloaded their holdings. Thousands of holders took heavy losses totaling billions of dollars, prompting some lawmakers to demand tighter rules to ensure officials do not misuse their positions for personal gain.

California Democrat Moves to Regulate Crypto Involvement

Rep. Sam Liccardo, a freshman Democrat from California, plans to introduce the Modern Emoluments and Malfeasance Enforcement (MEME) Act. 

This legislation would bar high-ranking officials, such as the …

The post House Democrats Take Aim at $TRUMP Meme Coin with New Legislation: MEME Act appeared first on Coin Edition.