PANews reported on February 27 that according to Cointelegraph, California Congressman Sam Liccardo said that the U.S. House of Representatives Democrats are preparing to introduce the Modern Emoluments and Malfeasance Enforcement Act (MEME Act). The draft legislation will prohibit a broad range of public officials and related personnel from issuing, sponsoring or endorsing any securities, commodities or digital assets. The bill is expected to be submitted on February 27 and involves the president, vice president, members of Congress, senior executive branch officials and their spouses and minor children. The bill has more than a dozen Democratic sponsors who are working hard to gain bipartisan support.