On May 8, 2025, Democratic Senator Chris Murphy introduced the MEME Act bill to the U.S. Congress aimed at limiting the involvement of public officials in cryptocurrency activities. The document prohibits presidents, vice presidents, members of Congress, and their families from issuing or promoting digital assets to avoid conflicts of interest. The initiative was prompted by the activities of Donald Trump's family, particularly the launch of the meme coin $TRUMP
which brought in $320 million, and the activities of his sons in the company American Bitcoin. The bill was supported by 20 Democratic senators, but Republican Cynthia Lummis expressed willingness to collaborate to create a balanced regulatory framework. Experts at Coincu note that increased regulation may enhance transparency in the crypto market but complicate the promotion of new projects. HTX Research advises investors to stay updated. Subscribe to #MiningUpdates to stay informed!
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