The US Congress is reportedly set to contemplate laws that will ban the issuance of memecoins like President Donald Trump’s Official Trump (TRUMP) token.
Home Democrats are getting ready to introduce the Trendy Emoluments and Malfeasance Enforcement (MEME) Act, which might prohibit public officers from cashing in on digital belongings, California Consultant Sam Liccardo told ABC Information on Feb. 27.
The draft laws would prohibit a broad vary of public officers and associated individuals from issuing, sponsoring or endorsing any safety, commodity or digital asset.
“Let’s make corruption felony once more,” Liccardo stated, including that US public workplaces belong to the general public and that officers shouldn’t be allowed to leverage their political authority for monetary achieve.
Invoice would apply to Melania Trump’s memecoin
The MEME Act, which is anticipated to be launched on Feb. 27, will concern the president, vice chairman, Congress members, senior govt department officers and their spouses and dependent kids.
Liccardo stated the invoice has a dozen Democratic sponsors who’re working to construct bipartisan assist.
“The Trumps’ issuance of memecoins financially exploits the general public for private achieve and raises the specter of insider buying and selling and international affect over the manager department,” he said.
It is a growing story, and additional data shall be added because it turns into out there.
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