#MEMEAct As of May 7, 2025, the #MEMEAct (Modern Emoluments and Malfeasance Enforcement Act) has been officially introduced by U.S. Senator Chris Murphy (D-Conn.) . This legislation aims to prohibit federal officials, including the President and members of Congress, from launching or promoting meme-based cryptocurrencies. The move comes in response to concerns over political figures profiting from such digital assets, notably those linked to former President Donald Trump.
Log in or sign up to view
+4
The National Desk
+4
KEYE
+4
CoinGecko
+10
$BTC News
+10
Log in or sign up to view
+10
BitDegree
The #MEMEAct seeks to address potential conflicts of interest and ethical issues arising from politicians endorsing or benefiting from meme coins. By restricting federal officials from engaging in these activities, the bill aims to prevent the exploitation of political influence for personal financial gain.
For instance, reports have highlighted that Melania Trump played a central role in a cryptocurrency venture that allowed insiders to amass nearly $100 million in profits shortly after the launch of the $MELANIA coin . Such instances have raised concerns about the ethical implications of political figures' involvement in the crypto market.
The US Sun
The introduction of the #MEMEAct reflects a growing effort to establish clearer boundaries between political authority and financial endeavors in the rapidly evolving cryptocurrency landscape. As the bill progresses through the legislative process, it will be closely watched by both political observers and participants in the crypto market.
