MEME Act Could Ban TRUMP And Political Token Launches
Silicon Valley Congressman Sam Liccardo proposed the Meme Act to block Trump and other political tokens. The bill has little chance of passing, but it could be a major milestone.
Although the crypto industry has real political power, the Republican coalition has some cracks. If these cracks are expanded, then such important legislation may have a chance of success.
Can meme behavior stop Trump?
when President Trump launches his own meme coinsit brings worrying new boundaries to encrypted spaces. Nearly half of investors Be the complete newbie of cryptocurrency space. Scammers use hype to steal $857 million In the first few days.
Now freshman MP Sam Liccardo is trying to stop this trend by sponsoring his first work legislation:
“That’s not my plan to run for office, I can assure you. (Trump’s) behavior is so self-consciously immoral that it raises the question why there isn’t a clear enough ban (about political meme coins). You need to have some law enforcement mechanisms and private rights to act to help keep everyone honest.”
Liccardo is the representative of Silicon Valley, the largest technology hub in the United States, and has been in office since January. So far, it is unclear how many valley tech companies have supported his first big Congress efforts.
Today, he proposed to target Trump and Other political meme coins.
The bill will prevent the president, members of Congress, other senior officials and their families from launching or endorsing any marks threaten Civil and criminal penalties. This will also impose similar restrictions on goods and securities.
If approved, the Meme Act will also require Trump to pull all profits from token issuances.
The rise of Trump and other political meme coins is causing Outstanding people like Vitalik Buterin Worry about the direction of the industry. openly scam yes Influence the credibility of encryptionand Multiple foreign governments Started or Consider starting your own meme coins Carpet pull.
Several members of the crypto community believe that these tokens are a huge mechanism for achieving political corruption.
Liccardo is very open and he intends to use the bill as an act of protest. He has received 12 other Democrats co-sponsored the bill, but no bipartisan support.
this Republicans show obvious signs According to the ad, it is very intimate, but it is important not to exaggerate the facts. But even Republican crypto skeptics have no reason to openly oppose their president.
In short, the Meme Act may end up doing nothing to stop Trump or the political meme coin craze. Still, Liccardo’s efforts may be an important foundation. It may help to develop future legislation or measure the feasibility of Republican crypto skepticism.
On the surface, the industry has more political power than ever before, but this power is not really tested.
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