#MEMEAct MEME House Democrats propose the MEME Act to ban TRUMP and other political tokens

- When President Trump launched his own meme coin, it crossed concerning new boundaries for the cryptocurrency space. Nearly half of its investors are completely new to the cryptocurrency space, and scammers took advantage of the hype to steal $857 million in the early days.

Currently, newly elected Congressman Sam Liccardo is trying to stop this trend by sponsoring his first piece of legislation:

"That was not my plan when I ran, I can assure you. [Trump]'s behavior is clearly so unethical that it raises the question of why there isn’t a clear ban [on political meme coins]. You need to have an enforcement mechanism and personal accountability to help keep people honest," Liccardo stated in an interview.

- Today, he proposed the Modern Enforcement and Misconduct Act (MEME), aimed at TRUMP and other political meme coins.

This act will prevent the President, members of Congress, other senior officials, and their family members from launching or endorsing any tokens under the threat of civil and criminal penalties. It will also impose similar restrictions on goods and securities.

If passed, the MEME Act will also require Trump to return all profits from launching his token.