Presidential Meme Coins Should Be Against the Law, House Democrat Says

WASHINGTON, Feb. 27, 2025 (AP) – California Democrat Rep. Sam Liccardo, a freshman congressman who represents Silicon Valley, said he’s surprised the first piece of legislation he’s sponsoring takes aim at President Donal Trump’s meme coin.

“That wasn’t my plan when I ran for office, I can assure you,” said Liccardo, the former mayor of San Jose.

But the president’s launch of a meme coin just before taking office last month needed some kind of response, said Liccardo. Those who bought the meme coin right after launch made out, but the price quickly dropped leaving others with big losses. Even Trump-supporting crypto enthusiasts found the launch distasteful.