Democrat Calls for Ban on Presidential Meme Coins
Representative Sam Liccardo’s MEME Act aims to prevent conflicts of interest by prohibiting high-ranking officials, including the president, from launching or endorsing cryptocurrencies like meme coins. The bill, though unlikely to pass in the current Congress, seeks to address concerns surrounding transparency, insider trading, and potential foreign influence stemming from President Trump’s meme coin launch. It would also mandate the return of profits gained from such ventures and allow private lawsuits for investors who suffered losses. The bill serves as a symbolic measure against perceived corruption and a potential template for future legislation should Democrats regain power.
John Q. Hosedrinker