🪙The U.S. Congress seeks to curb corruption with meme coins

The hashtag #MEMEAct is trending following the introduction in Congress of the Modern Emoluments and Malfeasance Enforcement Act (MEME Act), a legislative proposal aimed at prohibiting the president, vice president, members of Congress, and high-ranking federal officials from issuing, promoting, or profiting from meme coin type cryptocurrencies during their term. This law arises as a direct response to the launch of the $TRUMP coin by President Donald Trump, which generated controversy by allowing him to reap enormous profits and opened the door to potential foreign influences and conflicts of interest.

The MEME Act aims to close these legal loopholes, establishing civil and criminal penalties for those who use their public position to enrich themselves with digital assets, tokens, or NFTs. The debate has heated the political and financial atmosphere, with calls to restore ethics and transparency in public administration.

Do you think officials should be able to launch their own cryptocurrencies? Join the conversation and share your opinion!