US Democratic House Representatives Prepare to Introduce Bill Prohibiting Public Officials from Issuing and Promoting Digital Assets
Summary
- US Democratic House Representatives are reportedly preparing to introduce a bill that would prohibit public officials from engaging in profit-making activities related to digital assets.
- The bill's core is to prevent public officials and their families from issuing, sponsoring, or promoting digital assets, according to the report.
- Currently, 12 Democratic representatives support the bill and are working to gain bipartisan support, the report stated.
It is reported that US Democratic House Representatives are preparing to introduce a bill that would prohibit public officials from engaging in profit-making activities related to digital assets.
According to cryptocurrency media Cointelegraph on the 27th, US Democratic House Representative Sam Ricardo is pushing for the 'Modern Ethics and Misconduct Enforcement Act (MEME)' that would prohibit public officials from issuing meme coins and other digital assets.
The core of this bill is to prohibit public officials and related individuals, including the President, Vice President, members of Congress, high-ranking administration officials, and their spouses and dependent children, from issuing, sponsoring, or promoting securities, commodities, and digital assets.
The media added, "This bill is likely to apply not only to US President Donald Trump but also to the meme coin launched by First Lady Melania Trump," and "Currently, 12 Democratic representatives support the bill and are working to gain bipartisan support."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
