This Democrat wants to stop one of Trump's many grifts

President Donald Trump has turned politics into a giant grift, but a new bill aims to shut down one of his hustles.

Democratic Rep. Sam Liccardo of California introduced the “Modern Emoluments and Malfeasance Enforcement (MEME) Act” on Thursday to target Trump’s moneymaking cryptocurrency scheme. According to his office, the bill aims to “halt the financial exploitation of the public by corrupt federal officeholders.”

“Let’s make corruption criminal again,” said Liccardo, a former local and federal prosecutor, in a press release. “Our public offices belong to the public, not the officeholders, nor should officials leverage their political authority for financial gain.”

The MEME Act would prohibit the president, vice president, Congress, senior White House officials, and their spouses and children from issuing, sponsoring, or endorsing a security, future, commodity, digital asset, or a non-fungible token, known as an NFT. It would bar federal officials from promoting or engaging in conduct likely to benefit them financially, with violators subject to criminal and civil punishment.

The bill focuses on modernizing the Emoluments Clause, which was created during the Constitutional Convention in 1787. It has been part of the U.S. Constitution since its writing, residing in Article I, Section 9, Clause 8. It states, “No Person holding any Office of Profit or Trust under them shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State.”

Now, with cryptocurrency and digital tokens known as NFTs changing the way the world exchanges money–and with Trump angling to profit from crypto and NFTs while in office—Liccardo’s bill aims to update emoluments to include modern American financial trading. 

Over a dozen representatives have cosponsored the bill, according to the press release.

“If you’re in the business of issuing a security or a commodity, or a digital token like this, then that creates enormous risk that security, that meme coin whatever it might be, will just get bought up by foreign investors who want to curry favor with you to get a good outcome,” said Liccardo in a post on X announcing the bill.  

Democratic lawmakers were stunned after Trump announced his latest NFT grift a few days before his inauguration.

It’s no secret Trump has spent his years in the political sphere announcing new ventures to enrich himself, first lady Melania Trump, and his children. 

According to Melania’s website, the memes she is hawking “are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type. https://melaniameme.com/ is not political and has nothing to do with any political campaign or any political office or governmental agency.” 

When Melania isn’t using her position as first lady to promote her NFT “Melania MEME” scheme, she’s shilling tacky gold jewelry and Christmas ornaments.

Trump has also branded Bibles, guitars, cologne, and watches. And Trump Media & Technology Group announced it will soon expand into financial and investment advising.

“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,” said Liccardo.

The MEME Act is a clear shot at Trump’s shameless quest to turn public office into a personal piggy bank. From NFTs to sneakers, the president has never missed a chance to cash in. But winning the presidency isn’t supposed to be a get-rich-quick scheme—unless, of course, your last name is Trump.