US EditionPublished • loading... • Updated
Democrat proposes MEME Act to stop Trump and other top politicians from issuing crypto coins
- House Democrats are introducing the MEME Act to prohibit public officials from endorsing cryptocurrencies like Trump's meme coin, which has experienced a significant price drop from nearly $70 to about $12.
- The proposed bill would also require Trump to return any profits earned from his meme coin sales and would allow investors to sue if they lost money.
- Representative Sam Liccardo expressed concern over transparency and potential corruption, emphasizing the need for enforcement mechanisms against unethical practices in the cryptocurrency market.
- Despite the bill's significance, it is unlikely to pass in the current Republican-controlled Congress, reflecting ongoing divisions within the Democratic Party.
Insights by Ground AI
15 Articles
15 Articles
Trump Meme Coin Spurs Silicon Valley Democrat’s Bill to ‘Make Corruption Criminal Again’
The MEME Act from Rep. Sam Liccardo would make it illegal for the president, other government officials and their family members to sponsor or issue their own financial assets.
·San Francisco, United States
Read Full Article
Associated Press NewsReposted by 
Winnipeg Free Press
Winnipeg Free PressPresidential meme coins should be against the law, House Democrat says
California Democrat Rep. Sam Liccardo is proposing legislation that takes aim at President Donald Trump's meme coin. Liccardo’s bill, which he plans to introduce Thursday, would block the president, members of Congress, and other senior officials, as well as their…
·United States
Read Full Article
Coverage Details
Total News Sources15
Leaning Left5Leaning Right0Center3Last UpdatedBias Distribution63% Left
Bias Distribution
- 63% of the sources lean Left
63% Left
L 63%
C 37%
Factuality
To view factuality data please Upgrade to Premium
