- US Senator Chris Murphy announced that he has introduced a bill to ban the promotion of Donald Trump's meme coin.
- The bill aims to regulate public officials from abusing their office for financial gain.
- Senator Murphy emphasized that this bill also applies to certain types of investments, including securities and virtual assets.
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US Senator Chris Murphy has introduced a bill to ban the promotion of Donald Trump's Official Trump (TRUMP) coin.
According to Decrypt, a media outlet specializing in virtual assets (cryptocurrency), this is part of the Modern Emoluments and Misconduct Elimination (MEME) Act, which stipulates that public officials should not use their office for financial gain.
This applies particularly to certain types of investments, including securities and virtual assets.
Chris Murphy stated, "The Trump meme coin TRUMP is a prime example of what the MEME Act prohibits," claiming "this is the most corrupt act committed by a president in history."
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