#MEMEAct Democrats are preparing to introduce a bill prohibiting U.S. officials from profiting from crypto-assets, amid the controversy surrounding the meme coins TRUMP and MELANIA.

Its title is the Modern Emoluments and Malfeasance Enforcement (MEME) Act.

The author of the initiative has called for the restoration of criminal liability for high-ranking officials and their families for involvement in financial schemes with crypto-assets.

California State Representative from the Democratic Party Sam Liccardo is preparing to submit a bill to prohibit high-ranking officials and their families from profiting from digital assets. This was reported by ABC News.

In particular, this concerns the President of the United States, the Vice President, members of Congress, representatives of the executive branch, as well as their wives and dependent children.