Rep. Sam Liccardo has introduced legislation aimed at stopping the financial exploitation of the public by federal officials, citing unethical practices surrounding the issuance of meme coins by President Trump and his wife. The proposed bill would bar top officials from promoting or endorsing any digital assets, aiming to protect retail investors who suffered significant losses due to insider trading allegations. Liccardo emphasized the need to ensure public offices serve the interests of citizens, not personal gain, as well as addressing potential foreign influence in U.S. governance.
Let's make corruption criminal again. Our public offices belong to the public, not the officeholders, nor should they leverage their political authority for financial gain.
The Trumps' issuance of meme coins financially exploits the public for personal gain, and raises the specter of insider trading and foreign influence over the Executive Branch.
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