Senate Democrats Introduce MEME Act Banning Presidents, Lawmakers from Issuing Trump Meme Coin, Stablecoins Amid Vote Delay

12 posts • GPT (4.1 mini)

Updated May 8, 2025, 12:14 PM

Senate Democrats are preparing to introduce comprehensive legislation aimed at banning presidents, lawmakers, and their families from issuing, endorsing, or sponsoring cryptocurrency assets. The proposal, known as the MEME Act, specifically targets meme coins and stablecoins, with Senator Chris Murphy labeling the Trump-branded meme coin as "the biggest corruption scandal in White House history." Representative Ritchie Torres is also set to introduce a bill to prevent federal officials and their families from profiting from these types of digital assets. Despite efforts to advance the legislation, some Senate Democrats are expressing opposition, leading to delays and uncertainty over a scheduled vote later this week. Lawmakers are working to find a consensus on the bill, which represents a first-of-its-kind regulatory approach to crypto asset involvement by high-ranking government officials.

More breaking stories on DeepNewz — updated live.

#Senate Democrats #MEME Act #Chris Murphy #White House #Ritchie Torres

Related Prediction Markets

US Politicians banned from launching cryptocurrencies before July?

U.S. enacts stablecoin bill in 2025?

Senate passes bill to purchase 1m Bitcoin in 2025?

Trump's face on the $250 bill before July?

US congress stock trading ban in 2025?

Federal employee charged as a result of DOGE investigation?

•

View market suggestions→

Sources

politico.com(2)cbsnews.com bizpacreview.com time.com

The Wolf Of All Streets

@scottmelker

NEW: CONGRESSMAN RITCHIE TORRES TO INTRODUCE LEGISLATION THAT WOULD BAN FEDERAL OFFICIALS AND THEIR FAMILIES FROM PROFITING OFF OF STABLECOINS AND MEMECOINS

POLITICO

@politico

Dem holdouts pushing to delay floor vote on crypto bill https://t.co/G9RNq37DcL

CBS News

@CBSNews

Senate Democrats are rebelling against a crypto regulation bill, putting the first-of-its-kind legislation in jeopardy ahead of a possible key vote on it later this week. https://t.co/6RpCG7fybQ