#MEMEAct

The MEME Act (H.R.1712 - MEME Act) is a bill introduced in the United States Congress to regulate digital assets.

1️⃣ The aim of the bill is to provide a clear regulatory framework for the industry, focusing on:

- *Defining the role of the Securities and Exchange Commission (SEC)*: overseeing digital assets that are considered investment contracts.

- *Testing decentralization*: establishing criteria to test decentralization, where there should be no unilateral control by any party.

- *Defining mature networks*: defining mature networks as those that have autonomy, transparency, and lack of central control.

2️⃣ Objectives of the bill:

- *Regulate the digital asset market*: provide a clear regulatory framework for the industry, with the aim of fostering investment and innovation.

- *Protect investors*: establish clear rules to protect investors and reduce risks.

3️⃣ Potential benefits:

- *Fostering investment*: clear regulation can foster investment in the digital asset market.

- *Increasing transparency*: it can increase market transparency and reduce risks.