Lawmakers Accelerate Efforts to Address Crypto Ethics With MEME, Stop TRUMP Acts
2025-07-18 03:36:27
Main Idea
U.S. lawmakers are advancing legislation to address ethical concerns in cryptocurrency activities by officials, including proposals to restrict ownership and trading of crypto assets by high-ranking officials.
Key Points
1. U.S. Representative Jimmy Panetta co-sponsored two proposals aimed at tightening rules around cryptocurrency activity by sitting officials.
2. The Modern Emoluments and Malfeasance Enforcement (MEME) Act would prohibit the President, Vice President, Members of Congress, and senior Executive Branch officials from engaging in certain crypto activities and impose penalties for violations.
3. The Stop TRUMP in Crypto Act would bar officials from owning controlling shares in specific crypto ventures, such as TRUMP and MELANIA tokens.
4. The proposals aim to address conflicts of interest and ethical concerns in the digital asset space, similar to existing rules for stocks or private investments.
5. Other legislation, such as the GENIUS Act and CLARITY Act, seeks to clarify and encourage responsible innovation in the crypto market.
Description
Crypto ethics reform is accelerating as sweeping legislation gains traction to block federal officials from cashing in on digital assets, igniting major momentum in Washington’s crackdown. Momentum Builds for Crypto Ethics Reform as Lawmakers Target Official Conflicts Efforts to restrict crypto involvement by federal officials are gaining steam, as lawmakers expand support for ethics-focused legislation
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