#MEMEAct

New developments:

* Senator Chris Murphy introduces a similar bill in the Senate: Democratic Senator Chris Murphy has introduced the MEME Act in the Senate. This bill shares a similar purpose to the one previously introduced by Representative Sam Liccardo in the House.

* Trump's focus on cryptocurrency: Both bills, in the House and Senate, are driven by the event of former President Donald Trump launching the meme coin $TRUMP. Lawmakers are concerned about the potential conflicts of interest and foreign influence brought about by these cryptocurrency transactions.