House Democrats Introduce MEME Act in Response to TRUMP Coin

House Democrats have proposed the Modern Emoluments and Malfeasance Enforcement Act in reaction to President Trump unveiling a meme coin, Congressman Sam Liccardo revealed. The MEME Act aims to bar senior officials from launching cryptocurrencies and mandates them to reimburse earnings from meme coin transactions. Liccardo noted that the proposed law tackles ethical issues concerning transparency and insider trading associated with Trump's meme coin. The legislation permits private investors to seek compensation for losses from meme coins endorsed by public figures, symbolizing a firm stand against corruption.