California Democrat Rep. Sam Liccardo is setting his sights on the intersection of cryptocurrency and political power.
A new bill introduced by House Democrats aims to prohibit top government officials and their families from personally profiting off meme coins, highlighting the emerging intersection of cryptocurrency and political power.
What Happened: California Democrat Rep. Sam Liccardo will introduce the Modern Emoluments and Malfeasance Enforcement Act on Thursday, which aims to prohibit the president, vice president, members of Congress, senior executive branch officials, and their immediate family members from issuing, sponsoring, or endorsing any securities, futures, commodities, or digital assets.
The bill proposes criminal and civil penalties for violators and includes a retroactive element to address assets issued before its enactment, potentially affecting the TRUMP coin launched in January.
Liccardo expressed concern that the president and first lady Melania Trump may have profited personally from their respective meme coins at the
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