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The US Congress is reportedly set to contemplate laws that might 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 taking advantage of 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 felony once more,” Liccardo stated, including that US public places of work 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 anticipated to be launched on Feb. 27, will concern the president, vice chairman, Congress members, senior government department officers and their spouses and dependent kids.
Liccardo stated 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 acquire and raises the specter of insider buying and selling and international affect over the manager department,” he acknowledged.
This can be a growing story, and additional info will probably be added because it turns into out there.
Journal: Trump’s crypto ventures raise conflict of interest, insider trading questions
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