The US Congress is reportedly set to think about laws that may ban the issuance of memecoins like President Donald Trump’s Official Trump (TRUMP) token.
Home Democrats are getting ready to introduce the Fashionable Emoluments and Malfeasance Enforcement (MEME) Act, which might prohibit public officers from making the most of 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 prison 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 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, vp, Congress members, senior government department officers and their spouses and dependent youngsters.
Liccardo mentioned the invoice has a dozen Democratic sponsors who're working to construct bipartisan help.
“The Trumps’ issuance of memecoins financially exploits the general public for private achieve and raises the specter of insider buying and selling and overseas affect over the chief department,” he said.
This can be a growing story, and additional data shall be added because it turns into out there.
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