US Congressman proposes bill to ban public servants from issuing meme coins... targeting TrumpCoin

The US Congress is debating a bill that would ban the issuance of meme coins such as President Donald Trump's official TRUMP token.
It has been reported that Congressman Sam Liccardo, a California Democrat, is preparing to introduce a bill that would ban public officials from issuing meme coins.
On the same day, Rep. Liccardo told ABC News, "House Democrats are preparing to introduce the Modern Allowances and Abuses of Power Act (MEME) which would allow public officials to collect income from digital assets.
"It will prohibit public officials and related parties from issuing, sponsoring or endorsing securities, products, digital assets, etc.
"Let's make corruption a crime," Liccardo said. "Public office in our country belongs to the people, and public officials should not use their political power to pursue financial gain."
The MEME Act applies to the president, vice president, members of Congress, and members of the executive branch, as well as their spouses and dependents. Senator Liccardo said the bill has 12 Democratic sponsors and is a bipartisan measure.
"The Trump family's meme coins are intended to exploit the public for their own personal gain, and are used for insider trading and to smear campaigns against foreign regimes," Liccardo said.
"There is a danger that this could bring about further influence."