#MEMEAct

Democrats are preparing to introduce a bill that would ban U.S. officials from profiting from crypto assets, amid the controversy surrounding the meme coins TRUMP and MELANIA.

Its title is the Modern Emoluments and Malfeasance Enforcement (MEME) Act.

The author of the initiative has called for the restoration of criminal liability for senior officials and their families for participating in financial schemes involving crypto assets.

California state representative from the Democratic Party Sam Liccardo is set to submit a bill prohibiting senior officials of the country and their families from profiting from digital assets. This was reported by ABC News.