The US Congress is reportedly set to contemplate laws that may ban the issuance of memecoins like President Donald Trump’s Official Trump (TRUMP) token.
Home Democrats are making ready to introduce the Trendy Emoluments and Malfeasance Enforcement (MEME) Act, which might prohibit public officers from benefiting from digital property, 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 legal once more,” Liccardo mentioned, including that US public workplaces belong to the general public and that officers shouldn’t be allowed to leverage their political authority for monetary acquire.
Invoice would apply to Melania Trump’s memecoin
The MEME Act, which is predicted to be launched on Feb. 27, will concern the president, vp, Congress members, senior govt department officers and their spouses and dependent kids.
Liccardo mentioned 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 acquire and raises the specter of insider buying and selling and international affect over the manager department,” he said.
This can be a growing story, and additional info will likely be added because it turns into obtainable.
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