Democratic lawmakers have introduced two bills aimed at blocking former President Donald Trump from financially benefiting through cryptocurrency ventures. According to Chainalysis, nearly 2 million wallets have invested in Trump's memecoin, and about one-third of them have suffered losses.
One of the proposed bills, the MEME Act (Modern Emoluments and Malfeasance Enforcement Act), was introduced by Senator Chris Murphy on May 6. If passed, it would prohibit the president, vice president, members of Congress, senior executive officials, and their immediate families from issuing, sponsoring, or promoting any digital asset, security, commodity, or future contract.
This move signals increasing political attention on the intersection of crypto and public office.
