American Democrats have taken action for the TRUMP Coin! Will it be historic?

The issuance of the TRUMP token bearing the name of US President Donald Trump has caused a great stir both in the US and around the world.

The launch of Trump's own token was supported on one hand while being heavily criticized on the other hand.

As criticisms against TRUMP continue, Democrat members of the US House of Representatives are planning to introduce a bill to ban public officials from creating memecoins similar to TRUMP.

California Representative Democrat Sam Liccardo, in an interview with ABC News on February 27, said that House Democrats are preparing to introduce the Modern Earnings and Abuse of Office Act (MEME), which will prohibit public officials from issuing digital assets and profiting from them.

Liccardo expressed that Democrats have taken action, recognizing that hundreds of thousands of investors have been hit hard and billions of dollars worth of value are rapidly disappearing.

Liccardo stated that the MEME Act prohibits the issuance, endorsement, or approval of a security, futures contract, commodity, or digital asset by the President of the United States, Vice President, members of Congress, senior executive branch officials, and their spouses and dependent children.

Let's make corruption a crime again then.

Our public offices belong to the public, not to the officials, and they should not use their political authorities for financial gain. The Trumps' issuance of memecoins exploits the public for personal gain and raises the specter of insider trading and foreign influence on the Executive Branch.

Liccardo stated that they want to subject those who violate the rules along with the law to criminal and legal sanctions and prevent them from profiting from an asset that was expelled before the law came into effect. This also concerns the TRUMP coin closely.

Liccardo also added that currently 12 Democratic members support the bill.