Home Democrats are making ready to introduce a brand new invoice referred to as the Trendy Emoluments and Malfeasance Enforcement (MEME) Act, which might, by laws, prohibit public officers from creating wealth off meme cash or digital property.
In accordance with ABC News, the invoice targets tokens such because the $TRUMP and MELANIA tokens, which had been quickly launched by former President Donald Trump and his spouse, Melania Trump. California Consultant Sam Liccardo has made it public that the invoice is about to be debated as we speak…
The proposed laws will stop public officers just like the president, vice chairman, Congress members, and senior officers from utilizing their positions for private monetary achieve, particularly via issuing, sponsoring, or endorsing digital property.
California Consultant Sam Liccardo, who’s main the trouble, mentioned, “Let’s make corruption legal once more,” including that U.S. public places of work ought to serve the folks and never be used for revenue.
The $TRUMP token was launched in January 2025, simply days earlier than Donald Trump took workplace. Melania Trump adopted together with her personal coin shortly after. Since their launch, each tokens have misplaced numerous worth. The $TRUMP coin fell 82% in value, and the $MELANIA coin dropped by 93%.
A whole lot of buyers misplaced their cash on these two memecoin, which lawmakers at the moment are wanting into.
Liccardo’s invoice is without doubt one of the very first efforts to manage the memecoin market. The proposal would impose legal and civil penalties for officers who violate the foundations. Liccardo hopes the invoice will achieve help from each events, though it could face challenges in a Republican-controlled Congress.
Different memecoin-related proposals have been launched in Congress. For instance, on February 20, 2025, Senator Cortez Masto advised banning federal workers from benefiting from meme cash tied to the Chinese language Communist Social gathering.
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