#MEMEAct

In response, a piece of proposed legislation titled the "Modern Emoluments and Malfeasance Enforcement (MEME) Act" has been introduced in the Senate. This bill aims to prevent federal officials, including the President, Vice President, members of Congress, and senior Executive Branch officials, from profiting from digital assets like meme coins while in office. The proposed act would prohibit the issuance, sponsorship, or endorsement of such assets and restrict officials from engaging in conduct that could financially benefit them after the asset's creation. Violators could face both criminal and civil penalties if this legislation were to pass.