A new bill that makes its way through the US Congress, in an attempt Politicians stop From launching their cryptocurrencies. The move comes after many investors have lost a lot of money on Trump Mimi, associated with US President Donald Trump. The wild currency journey made people wonder whether politicians should be allowed to create and enhance these types of financial assets.
Trump currency
Last month, Trump Mimi and another coin associated with Milan Trump became immediate feelings. Soon both of them hit huge landmarks, which include billions of dollars in reviews just hours after their appearance.
But the excitement did not last. The Trump price took a currency. More than 80 % of its highest point decreased. Many people who bought the currency have finished losing a lot of money. This situation caught the attention of organizers and financing officials.
Democrats in the House of Representatives submit a Mimi law to ban officials from promoting encrypted coins
In response to President Donald Trump's recent launch of Mimi's currency, Democrats in the House of Representatives submitted a law of modern bonus and enforcement of poor discounts (MEME).
– This legislation aims to … pic.twitter.com/cu4gm2o9wy
– BSCN (@BELWS) February 27, 2025
A new law called the MG Law
California MP Sam Likardu is the charge New bill. It is called the MEME law, which symbolizes modern laws and the law enforcement of violations. The idea is simple: the President, Vice President, members of Congress, high -level government officials, and their families, prevented the support, issuance or care of financial assets, including metal currencies.
Liccardo believes that the Trump family has benefited from its political position to earn money from these encrypted currencies. They argue that they used their impact on personal gains. The aim of this law is to prevent federal officials from benefiting from digital assets. This includes things like stocks or cryptocurrencies. This is important because it can create conflicts in interests or open the door to corruption.
Fears about foreign trading and influence
Liccardo is interested in the possibility of trading from the inside. It is also concerned about the foreign influence on American policy. Current currencies have global access, which makes them vulnerable. MI Law It is designed to prevent federal officials from using their profit positions on these assets, thus maintaining their interests with the public good.
For example, if the politician knows the next regulations that may affect the price of encoded currency, they can use this information to make a profit before the audience knows. This is not fair and establishes confidence in the government.
What next to the bill?
The M and Law faces a difficult way. Republicans are currently controlling the House of Representatives and the Senate. This means that it will be difficult for the bill to obtain support. However, Liccardo is determined to continue to push the bill forward. He hopes to obtain wider support if Democrats gain the majority in the future.
Distinctive photo of Pexels, tradingView graph
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