#MEMEAct Senator Chris Murphy of the Democratic Party introduced the MEME Act to prohibit President Trump (and other top officials) from promoting any "presidential coin," including the memecoin $TRUMP—calling it a "conflict of interest." New developments:

* Senator Chris Murphy introduced a similar bill in the Senate: Democratic Senator Chris Murphy introduced the MEME Act in the Senate. This bill aims to achieve the same purpose as the bill previously introduced by Congressman Sam Liccardo in the House.

* Focus on Trump's cryptocurrency: Both bills, in the House and Senate, are driven by the event of former President Donald Trump launching the meme coin $TRUMP. Lawmakers are concerned about the potential for conflicts of interest and foreign influence arising from these cryptocurrency transactions.