The Democratic representative of California Sam Liccardo, a First year congress Who represents Silicon Valley, said it was surprised that the first element of legislation he sponsors aims at President Donal Trump coin.
“It was not my plan when I presented myself to his duties, I can assure you,” said Liccardo, the former mayor of San Jose.
But the launch by the president of a piece of the same just before taking office last month needs a kind of answer, said Liccardo. Those who bought the room even after the launch made the launch, but the price quickly dropped, leaving the others with large losses. Even Trump crypto-support lovers I found the launch unpleasant.
“This behavior is so clearly contrary to ethics that it raises the question of why there is not a sufficiently clear ban,” he said, adding that Trump’s memes play raises concerns about transparency, the offense of initiate and an inappropriate foreign influence.
The bill should be called the law on modern emoluments and embezzlement, or the law on memes. According to a project of legislation, he would block the president, the members of the congress and other senior officials, as well as their spouses and children, to deliver or sponsor securities, basic products and cryptocurrencies such as pieces even. This would also force Trump to disgorge all the benefits he made from the sale of his pieces even.
The Liccardo bill, which he plans to present Thursday, has no chance of going to this congress controlled by the Republican. But the first -year legislator said it would serve as a reserved space Democrats Come to power as well as an important symbolic gesture against what he called obvious corruption. His bill comes in the middle of a fracture Democrat party in difficulty To find its base in the first weeks of the Trump presidency.
The pieces even are a strange and very volatile corner of the cryptography industry which often starts as a joke without real value but can increase the price if enough people are ready to buy them. Critics consider them nothing more than Ponzi programs that enrich initiates and celebrities contrary to ethics. Supporters say that pieces even could be early indicators in the ways in which the Internet could revolutionize financial and other transactions.
Trump has long challenged presidential standards when it comes to approving and promoting products like Brand Bibles And scent. But he relied in particular with projects related to cryptocurrency that could considerably increase his personal wealth.
The room even Trump quickly climbed almost $ 70 shortly after its launch, but has since fallen at around $ 12. The researchers estimated that the negotiation costs have generated tens of millions of dollars for entities that launched the room, including a company belonging to Trump.
Trump and his sons also helped launch a decentralized financial cryptocurrency platform last year, and the president supported online stores that sell Sneakers on the theme of crypto and watches of $ 100,000.
The family business Trump recently published a ethics agreement This prohibits Trump from making “daily” decisions involving external trade agreements and limits financial information shared with him.
Formerly skeptical of cryptocurrencies, Trump changed CAP and promised last year to make the United States the world capital of digital assets. The cryptocurrency industry, which felt unfairly targeted by the Biden administration, adopted Trump and spent strongly to help him win the elections of last year.
First lady Melania Trump also launched a piece of memes which increased in value around the inauguration but which has since tail. A crypto developer who said he had helped launch this same corner was also involved in a disastrous launch of the same room which led to the Argentinian President Javier Milei facing a corruption probe.
This developer, Hayden Davis, said that the same parts are essentially a rigged game that benefits a small group of people at the expense of retail investors.
“It’s a game of initiates. This is an unregulated casino, “said Davis.
In addition to a criminal ban, the Liccardo bill would also allow private investors who lose money on a piece of meme supported by an official to continue. Liccardo said it was a key element in legislation, given what he considers a lack of independence to the current Ministry of Justice.
“You must have an application mechanism and a private right of action helps keep everyone honest,” said Liccardo.