Congress introduced the MEME Act

[Stompix]

This should easily gain support in the house but I don't know about the businessman in Trump would say.

Scammer
There, I fixed it for you.

Jimmy Carter put his farm in a blind trust to be in compliance with best practices required at that time for a president, the current one launches pump and dump meme tokens. Then we ask ourselves why do all these scammers exist!

Nancy Pelosi has been the biggest beneficiary of insider trading among many lawmakers in Congress and there had been many bills to stop or limit involvement of representatives and senators of the land in stock trading but to no avail as both parties wanted to protect this milking cow from drying. Now, with this Democrat-introduced Meme Act, seems to me like a big hypocrisy on their part...and the main motivation is because they are not being benefitted for now with memecoins.

Hypocrisy?
Are you really comparing insider trading with launching a pump and dump scam token?
How many people have lost money because of Pelosi and how many millions because of Trump?

[electronicash]

This is the effect of what happened to the Argentinian president, and the US government does not want this to happen because it will not only ruin the reputation of the politician but also the party where he belongs.
The meme coins are one of the riskiest investment in the market; it thrive on shill and creating FUD so politicians who wants to protect their reputation and his party should stay away from this, its ilegal and unethical.

argentina is not part of US though. the law is just for the US states which the article indicates Trump coin and Melania coin. but they are probably preventing any politics to launch a memecoin that will cause to get these politicians richer.

just think about Cynthia Lummis launching memecoin or Nancy Pelosi launching her memecoin. Nancy been an insider in stock market for years, she;d make more wealth if she does launch just like Trump did.

Perhaps what he meant is that we have seen what happened to the Argentinian president who promoted a meme coin and obviously it goes up but after that it goes down hard, a pure pump and dump.

And now he is under fire and probably the US has learn their lessons to that kind of event and so they wanted to prevent it at least in their country and so they introduce this bill or act.

maybe so. if more presidents do what Melei did, they'd all be making money from a memecoin scam. preventing it from happening must be one of the concern.
 
because they say its because the hacker tried to trade their stolen funds to the pumpfun, they could also be speculating more celebrities are going to be launching memecoins just like Melania and HawkTua or POLITICIANS.

more lawmakers secretly hate Trump for launching this memecoin. i doubt they made money out of it. this time, they are cutting this shit from happening again.

[PX-Z]

The draft legislation would prohibit a broad range of public officials and related persons from issuing, sponsoring or endorsing any security, commodity or digital asset.

Is this not mandated on other laws especially those came from the SEC? I bet this is the same about the security being market by any influential person. Well, if meme coins are not considered as security then this should be signed by law to prevent the public getting mislead by policies.

[Pirate]

I mean, it’s about time they set some boundaries on these things. If the Lazarus Group’s activities helped push this forward, then I guess we can thank them for making it happen

[Bobcrypto]

The draft legislation would prohibit a broad range of public officials and related persons from issuing, sponsoring or endorsing any security, commodity or digital asset.

Is this not mandated on other laws especially those came from the SEC? I bet this is the same about the security being market by any influential person. Well, if meme coins are not considered as security then this should be signed by law to prevent the public getting mislead by policies.

I think it was not mandated on other laws from the SEC or legislations, otherwise there wouldn't have been another Act that should prohibit meme coins creation like this particular Act.
in addition, meme coins are not security, they are just fun tokens created for excitement, and the proposed Act for the control of these incessant meme coins creations should be considered by the Representative and the upper house to become a law.

[NotATether]

I saw the title and thought even Congress was taking the piss on memecoins, but after reading the entire post, I see they've finally put a stop to this memecoin craze.

Job well done folks.

Memecoins only exist to scare off the general population from crypto to benefit the pockets of a few devs.

[zeeMN]

Why is the USA so aggressive with all these crypto legislations ?

Are they trying to claim these assets or trying to set the rules for the world to follow?

Politics seems to be defining the roadmap of crypto from what am seeing.

[Bobcrypto]

Why is the USA so aggressive with all these crypto legislations ?

Are they trying to claim these assets or trying to set the rules for the world to follow?

Politics seems to be defining the roadmap of crypto from what am seeing.

I have a different opinion from your perspective view of the Meme Act in the US. First, the legislation is meant to restrict unnecessary meme coins creation. You see, meme coins developers has been creating several pumps and dumps scheme that has lead to lost of funds by many investors, and if this meme frenzy does not stop, it can affect crypto the growth and developments.
I think the US aggression towards these meme coin creations is a welcome development in my opinion.

[Jating]

Why is the USA so aggressive with all these crypto legislations ?

It's because their current President is pro-crypto and so their government is going full support on crypto like dropping all of it's current lawsuit on crypto projects.

Are they trying to claim these assets or trying to set the rules for the world to follow?

Politics seems to be defining the roadmap of crypto from what am seeing.

No, I do not think that politics is defining the roadmap, although they could influence it as what we are seeing. But sooner or later, we will have our own bull run with or without Trump or any other entities support. Majority of investors are average joe but they are going to be the driving force at the end of the year to push our agenda of Bitcoin going into around $150k-$180k.

[dkbit98]

Trump turned United States and whole world into one big circus show, not that anything was serious before him with Biden puppet.
But this stupid meme act with Trump creating and promoting his own meme crap is next level stupid.
Now I saw him selling some gold card with his face for $5 million USD 

[Bobcrypto]

The meme coins act is expected to include procedures for creating of meme coins, the pumps and dumps scheme scenario, and every other factors that may pose a threat to meme coin trading and investments in my opinion.
I think that this legislation will boost meme coins investing and trading at the long run, it is expected that many crypto enthusiast may support the ideas.