According to Milk Road, the House of Democrats intends to propose the 'MEME Act', which seeks to prevent public officials from issuing or endorsing memecoins such as $TRUMP. This legislative move is expected to impact trading activities involving memecoins, as it may reduce their perceived legitimacy and influence in the market. Traders should be cautious about potential volatility in memecoin prices following this announcement, as market reactions could affect liquidity and trading volumes. This initiative highlights regulatory efforts to control the influence of memecoins in the financial markets, which could lead to broader implications for crypto trading strategies.