The US Congress has been reported to be set to consider the law that will prohibit the issuance of memecoins such as President Donald Trump’s (Trump) official token.
House Democrats are preparing to introduce Modern Emoluments and Malfeasance Enforcement (MEME) Act, which will prohibit public officials from reprofing from Digital Assets, California Representative Sam Liccardo said News of ABC in February. 27.
The draft law will prohibit a wide range of public officials and related people from exit, sponsoring or endorsing any security, commodity or digital assets.
“Let’s do criminal corruption again,” said Liccardo, adding that US public offices belong to the public and officers should not be allowed to use their political authority for financial benefits.
Bill will apply to Melania Trump’s memecoin
The Meme Act, which is expected to be introduced to Feb. 27, will remember the President, Vice President, Congress members, Senior Executive Branch officials and their wives and hopeful children.
Liccardo said the bill has a dozen democratic sponsors working to build Bipartisan support.
“The release of financial memecoins trumps exploits the public for personal gain and enhances the ghost of insider’s trading and foreign influence on the executive branch,” he said.
This is a story development, and further information will be added as it is available.
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