In response to the MEME Act bill, which restricts the involvement of federal officials in cryptocurrency projects, several prominent political figures expressed their views:
🗣️ Sam Liccardo
The California Democrat representing Silicon Valley is the author of the MEME Act bill. He noted that his first legislative proposal is aimed against the launch of a meme coin by President Donald Trump. Liccardo emphasized that Trump's behavior raises questions about transparency, insider trading, and foreign influence.
> "This behavior is so clearly unethical that it raises the question of why there is no clear prohibition."
🗣️ Chuck Schumer
The leader of the Democratic majority in the Senate expressed concern about Trump's and his family's involvement in cryptocurrency projects. He urged colleagues to suspend support for the GENIUS Act to introduce amendments that strengthen anti-corruption measures.
> "We need to restore public trust and enhance transparency."
🗣️ Maxine Waters
The chairwoman of the House Financial Services Committee postponed a scheduled joint hearing on digital assets after unanimous consent was withdrawn. This reflects growing concerns among Democrats about ethical conflicts and political influence in the cryptocurrency space.
> "We must ensure that cryptocurrencies are not used for the personal gain of high-ranking officials."
🗣️ Senator Cynthia Lummis
A Republican from Wyoming and an ally of Trump also expressed concern about his family's involvement in cryptocurrency projects. She indicated that she is open to bipartisan regulation of cryptocurrency assets by lawmakers.
> "We must ensure that cryptocurrencies are used ethically and transparently."
These statements highlight the growing concern among politicians regarding the use of cryptocurrencies by high-ranking officials and the need for strict measures to prevent potential abuses.
