🚨 Breaking: The U.S. Senate has introduced the “Modern Emoluments and Malfeasance Enforcement Act” (MEMEAct), aiming to prohibit federal officials and their families from creating, promoting, or profiting from cryptocurrencies, including meme coins and stablecoins.
This move comes in response to ethical concerns over former President Trump’s involvement in crypto ventures, notably the $TRUMP coin and a $2 billion stablecoin deal with a Dubai firm. Senator Chris Murphy, leading the initiative, emphasizes the need to prevent conflicts of interest and restore public trust.
While the bill faces challenges in the Republican-controlled Congress, it highlights growing bipartisan consensus on the need for clearer crypto regulations. The outcome could significantly impact politically affiliated digital assets.
