A grand play of 'absurd qualities and real regulation' has kicked off in American politics: #MEME Act (yes, it's real). You thought this was just some joke by a witty netizen? Sorry, it's genuinely a draft attempting to legislate regulation on 'Meme Coins' and crypto market behavior.
We must say, when seeing this name, the entire crypto world burst out laughing. Isn't this just the regulatory version of (Doge's Wonderful Adventure)?
1. What is the MEME Act? Is regulation finally starting to talk 'jokes'?
MEME, short for: Monetary Enhancement and Meme Evaluation Act — this name sounds like some kind of ironic joke, but the draft of the bill is really trying to do one thing:
Setting a regulatory framework for Meme coins to prevent fraud, market manipulation, and 'retail investors getting cut.'
In other words, regulators have finally realized: although Shiba and Doge started as jokes, today’s joke could tomorrow be the greenest plot of land in your investment portfolio.
The content of the bill includes:
• Disclosure obligations for Meme coin project parties (no more anonymous issuance and running away);
• Set the 'Meme Coin Transparency Rating' (similar to credit ratings, who issued the coins is clear at a glance);
• Prevent social media from leading the pump (sorry, Musk, you need to tone it down);
2. The 'true meaning' behind the bill: it's not that you can't speculate, but you can't let you be too happy.
This is not the government trying to be funny; this is the government trying to mess with you while making sure you can't laugh.
Think about these past few years:
• Dogecoin has transformed from a joke coin to a 'main asset';
• PEPE, WIF, TURBO rose 200% in one day, only to drop back to square one overnight;
• Certain crypto KOLs can attract a group of retail investors to all in on 'future coins' with a single tweet.
You think you're surfing, but in the eyes of regulators, you're crashing the tower.
The logic of the MEME Act is very clear: do not stifle innovation, but must crack down on speculation, information asymmetry, and the phenomenon of project parties 'cashing out and running.'
Just like the 'public order regulations' of the Web3 world: you can dream, but you can't take others with you to jump off a cliff.
3. The crypto world's reaction: cursing while sharing ridicule.
Once the bill was out, Reddit, X (Twitter) instantly exploded, and Meme coins had a carnival:
• "Is the next step to establish a Meme coin rating agency? 'This Shiba Inu is legal, that one isn't?'"
• "Does the SEC also need to register a Memecoin.gov to issue coins?"
But all said and done, cursing aside, the market is actually responding quite 'honestly':
• Some exchanges instantly delisted a bunch of newly issued Meme coins;
• Mainstream Meme projects are starting to write white papers, trying to clean up their image;
• On-chain coin issuance tool platforms are beginning to require project party information verification.
When the crypto world starts to take 'jokes' seriously, that's when you know regulation has really arrived.
Fourth, who is afraid of the MEME Act? Who is laughing while harvesting?
Those who are scared:
• Anonymous pump project parties: In the past, a Shiba Inu meme + a hot Twitter post could cut out a hundred thousand people; now they need to submit ID?
• KOL promoters: Just talking up a coin could inflate it five times; now it might directly trigger 'financial fraud' clauses.
• Short-term speculators: Without heat, Meme has no liquidity. Once the bill is out, without heat, there's no air left.
Truly happy:
• Responsible Meme project parties: Can prove they are not 'cutting leeks' projects, starting to clean up their image + legally raise funds;
• Mainstream exchanges: Use regulations to clean up platform junk coins, while enhancing credibility;
• Retail investors: Finally have legal protection, no longer 'believing in buying, running away at the peak' every day.
5. Conclusion: When regulators start to understand 'jokes,' you better start understanding the rules.
The MEME Act is not to suffocate Memes, but to prevent this market from being dominated by 'low intelligence, high profit' games. Today it’s about limiting Meme coins; tomorrow it might be new regulatory openings for NFTs, blockchain games, AI + coins.
As someone jokingly pointed out:
"This is the first time in the crypto world that the law begins to speak to you in your language — only you might not understand 'smiling with a knife.'"
Don't laugh too early, my friend. The next dog picture you share might just be the target of regulatory surveillance.
