Democrat Rep. Sam Liccardo to introduce legislation to prohibit the country’s top officials and their families – from Congress to the White House – from capitalizing on personal meme coins.
The Modern Emoluments and Malfeasance Enforcement (MEME) Act would prohibit the president, vice president, members of Congress, senior executive branch officials and their spouses and dependent children from issuing, sponsoring or endorsing a security, future, commodity or digital asset.
“Let’s make corruption criminal again,” Liccardo, a former federal and local criminal prosecutor, said. “Our public offices belong to the public, not the officeholders, nor should they leverage their political authority for financial gain. The Trumps’ issuance of meme coins financially exploits the public for personal gain, and raises the specter of insider trading and foreign influence over the Executive Branch.”