Donald Trump’s memecoin profits targeted by MEME Act
US President Donald Trump could be at risk of civil or criminal penalties related to his $TRUMP memecoin if a new act proposed by House Democrats is passed into law. Democratic representative Samuel Theodore Liccardo revealed his Modern Emoluments and Malfeasance Enforcement (MEME) Act to ABC News on Thursday. The act would introduce civil and criminal penalties if the president, vice president, their family, congress members, or executive branch officials launch, promote, or sponsor digital assets and securities. Liccardo claimed that the legislation would also work retroactively and prohibit Trump and his wife Melania from profiting from their past memecoin launches . Liccario said, “Our public offices belong to the public, not the officeholders, nor should they leverage their political authority for financial gain.” Crypto hasn’t stopped dumping since Donald Trump’s inauguration Read more: SBF wants Trump to know he was working wi...