The MEME Act (H.R. 11324), introduced on February 27, 2025, by Rep. Sam Liccardo (D-CA), is titled the Mitigating the Endorsement of Memecoins by Elites Act. It prohibits the President, Vice President, members of Congress, senior executive branch officials, their spouses, and dependent children from issuing, sponsoring, or endorsing securities, futures, commodities, or digital assets, particularly memecoins like $TRUMP. The bill aims to prevent corruption, extortion, bribery, and conflicts of interest by curbing officials’ ability to profit from or manipulate volatile financial assets. Violations may lead to criminal and civil penalties, though specifics are unclear.
Prompted by concerns over speculative memecoins, such as $TRUMP (market cap ~$2.7B in January 2025), the act seeks to protect the public from market manipulation and ensure transparency. Introduced by House Democrats, it responds to reports of officials profiting from such assets but applies to all covered officials. As of February 27, 2025, it is with the House Committee on Financial Services, with no further progress reported. Supporters see it as a step toward accountability, while critics question potential overreach or political targeting. Enforcement and scope remain uncertain.
Sources: X posts by @RepLiccardo, @Cointelegraph, @EdKrassen (Feb 27, 2025); web context on memecoins.
