House Democrats are taking aim at President Donald Trump’s $TRUMP meme coin with a new bill set to drop on Thursday, March 6, 2025.
Rep. Sam Liccardo, a California Democrat, plans to introduce the Modern Emoluments and Malfeasance Enforcement (MEME) Act, which would stop top U.S. officials—like the president, vice president, Congress members, and senior execs—and their families from issuing, endorsing, or hyping cryptocurrencies and other financial assets, according to ABC News.
The move comes after Trump launched $TRUMP in January 2025, just before taking office, alongside a Melania-branded coin. Both tokens soared initially but crashed hard, leaving retail investors burned while Trump and early backers reportedly raked in big profits.
Liccardo’s bill calls out the Trumps for “financially exploiting the public for personal gain” and warns of risks like insider trading and foreign influence over the White House, per ABC. The MEME Act would slap criminal and civil penalties on violators and even go after profits made before it kicks in.
It’s a bold swing, but don’t hold your breath—passing it under a Republican-led Congress looks like a long shot. Still, Liccardo says he’s laying groundwork for future support, especially if Democrats gain ground later. Trump, who’s been vocal about making the U.S. the “crypto capital of the planet,” hasn’t said a peep about the bill yet.
