#MEMEAct

The MEME Act is a proposed legislation that aims to prevent high-ranking government officials, including the President, Vice President, and members of Congress, from profiting from meme coins and other digital assets while in office. The bill would prohibit these officials from issuing, sponsoring, or endorsing digital assets, securities, and commodities, and would impose criminal and civil penalties for violations.

The legislation is a response to concerns over the potential conflicts of interest and exploitation related to officials promoting or profiting from meme coins. For example, former President Donald Trump launched his own meme coin, $TRUMP, which raised concerns about transparency, insider trading, and foreign influence.

The MEME Act has been introduced by Senator Chris Murphy and Representative Sam Liccardo, and has gained support from several Democratic lawmakers. However, its passage is uncertain due to the current political landscape.

Interestingly, there is also a cryptocurrency called MEMEACT, which is traded on some exchanges, including Raydium and OKX. Its current price is around $0.0000046702, with a market capitalization of approximately $4,652.81