House Democrats target Trump’s meme coin with new bill

The Democrats of the Chamber are targeting the $ Trump meme piece by President Donald Trump with new legislation to prevent senior US officials from taking advantage of digital assets.

The representative Sam Liccardo plans to present the modern law of emoluments and embezzlement (even) on Thursday, with the exception of federal officials and their families to deliver, approve or promote cryptocurrencies and other financial assets, according to in ABC.

Asset spear $ Trump in January, just a few days before taking office, alongside a Similar corner of Melania Trump brand. The cryptocurrency increased quickly, but collapsed later, leaving investors with heavy losses. Liccardo claims that the trumps and the first donors have made significant profits while retail investors suffered.

“The emission of coins by the Trums financially operates the public for personal purposes and raises the spectrum of the initiate of initiate and foreign influence on the executive power,” said prosecutors, according to ABC.

The memes law would apply to the president, vice-president, members of the congress, senior officials and their families.

It would also impose criminal and civil sanctions for violations and retroactively target the profits made before its promulgation.

Although the legislation is unlikely to be adopted under a congress under republican control, Liccardo says that it establishes support for future action.

Trump, who previously said its ambition To make the United States, the “cryptographic capital of the planet” did not comment on the proposed bill.

Release of initiates to the congress

The memes law comes in the midst of an in -depth examination on the offense of initiates between American legislators. Although federal officials are subject to financial disclosure laws, the members of the Congress have repeatedly accused of having used privileged information to take advantage of the transactions of actions.

In 2012, the law on actions (stop negotiating on knowledge of the congress) was passed To curb the offense of initiate by legislators and government representatives. The application of this law has been low and many members of the congress continue to exchange actions in the industries they regulate.

The reports have highlighted cases where legislators have made trades well timed before the main events on the market, such as COVVI-19 pandemic and banking crises.

An investigation in 2022 by the New York Times find The fact that nearly 100 members of the Congress or their immediate families had exchanged actions in industries under their legislative surveillance.