#MEME法案 MEME Act Details
Content
The MEME Act (Modern Emoluments and Malfeasance Enforcement Act) aims to prohibit the President, members of Congress, and other senior officials from issuing or supporting Meme coins. The bill was co-sponsored by U.S. Senator Chris Murphy and Congressman Sam Liccardo, aiming to curb corruption scandals in the White House and prevent officials from profiting from the issuance of Meme coins.
Background
In recent years, with the rapid development of the cryptocurrency market, Meme coins have emerged as a new investment tool. However, some political figures have leveraged their influence to issue Meme coins, sparking widespread controversy and criticism. Notably, the TRUMP Meme coin project, associated with the Trump family, has led to significant losses for many investors and raised concerns among the public and legislators.
Impact
1. Market Reaction: The introduction of the MEME Act has caused significant volatility in the cryptocurrency market. Platforms like Coinbase and Kraken lost over $2.3 billion in assets in a single day, while some decentralized exchanges, such as XBIT, saw their on-chain Total Value Locked (TVL) grow against the trend.
2. Investor Protection: The bill aims to protect investors from the harm caused by officials issuing Meme coins using their influence, preventing market manipulation and corrupt practices.
3. Legal and Regulatory: The introduction of this bill marks a further strengthening of U.S. regulations on cryptocurrencies, which may have profound implications for the global cryptocurrency market.
Other Relevant Information
• Arizona: The state has passed a bill to establish a cryptocurrency reserve, further promoting the legalization and application of cryptocurrency at the local level.
• Young Investors: An increasing number of young Americans view the Meme coin market as a new avenue for achieving financial freedom, despite facing high student debt and unaffordable housing prices.
The introduction and implementation of the MEME Act will have significant impacts on the cryptocurrency market, particularly regarding regulation and investor protection. As the bill progresses, the market and investors need to closely monitor related dynamics and policy changes.
