The bill prohibits the creation, launch or promotion of digital assets for which the names and images of the President and civil servants are used, including members of Congress, senior officials and their relatives, as well as federal regulatory authorities. The bill is designed to prevent insider trade and eliminate the potential conflict of interests that may arise in connection with the launch of stablecoins and memecoons by officials, the author explained.
Federal officials should not receive financial benefits from the crypto market, which can be influenced by legislation, regulation or law enforcement. Persons to which the law apply to must be unlawful of the volumes of the crypto acts they have, indicated in the released version of the bill.
The bill is called the “Law on the termination of presidential speculation of digital assets” and is directed against the Trump -run -up cryptocredit platform of the World Liberty Financial and its Steiblcoin USD1, as well as memcoirs like Trump. The bill Torres was a response to a wave of memcoirs named after political figures.
Recently, Senator John Ossoff proposed more radical measures, calling for Trump’s impeachment. The reason was the upcoming presidential dinner with the 220 largest Trump tokens, which should take place on May 22. Ossoff claims that the invitation of large investors to an exclusive conversation with Trump is equivalent to selling access to the president.
Recently, the Senator Synthia Lummis (Cynthia Lummis) spoke for the development of standards for using memcoirs by officials. If memcoirs that do not benefit society will be uncontrollably used by politicians, the times of the Wild West will come, Lammis fears.
Source: Bits
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