February 28, 2025
Preventing Exploitation
The new bill is aimed at prohibiting public officials from issuing, sponsoring, or endorsing digital assets. The goal of the legislation is to prevent officials from exploiting their positions for personal profit and to protect public offices from potential corruption.
Source: Sam Liccardo
The bill targets a broad group of public officials, ranging from the United States President to members of Congress, and also extends to their spouses and dependents. By limiting the issuance of meme coins, the bill would also affect tokens like MELANIA and TRUMP.
Insider Trading Concerns
Lawmakers argue that public officials should not be able to profit from digital assets, citing concerns over insider trading and the potential for foreign influence.
Since their launch, both TRUMP and MELANIA have seen dramatic drops in value, with TRUMP falling 82% from its peak in January and MELANIA losing 93%.
