California Democrat Rep. Sam Liccardo is proposing legislation that takes aim at President Donald Trump's meme coin.

When the most famous man in the world cashes in on a crypto trend, that's a strong top signal. Why it matters: Revenue has been falling for the leading meme-coin platform since the Trump Organization launched the Official Trump (TRUMP) and Melania Meme (MELANIA) coins Jan.

Congress Democrats have introduced a bill in the House to ban top federal officials and their families from issuing or promoting meme coins.

Some Democratic lawmakers are taking a stand against politicians cashing in on crypto by pushing a new bill that would ban public officials from launching or profiting off meme coins. Backed by a group of House Democrats,