US Democratic representatives will introduce a bill to ban public officials from issuing MEME coin

Golden Finance reported that, according to Cointelegraph citing BCH News, US California Democratic representative Sam Liccardo is preparing to introduce the Modernizing Ethical Standards in Law Enforcement (MEME) Act, which will prohibit public officials from profiting from digital assets. The bill prohibits a wide range of public officials and their associates from issuing, sponsoring, and endorsing any securities, commodities, or digital assets, including the president, vice president, members of Congress, senior executive branch officials, and their spouses and dependent children. Liccardo said the bill has the support of more than a dozen Democratic lawmakers who are working to garner bipartisan support. Liccardo pointed out that the Trump family issued memecoins to economically exploit the public for personal gain, triggering concerns about insider trading and foreign influence on the executive branch. The bill is expected to be formally introduced on February 27th.