#MEMEAct
The #MEMEAct refers to two different proposals:
*Legislative Proposal*
The Modern Emoluments and Malfeasance Enforcement (MEME) Act is a proposed bill in the US Congress aimed at preventing federal officials, including the President, Vice President, and members of Congress, from profiting off their public positions through digital assets like meme coins. This bill seeks to address potential conflicts of interest and unethical financial gains by public officials ¹.
*Key Provisions:*
- *Prohibited Activities*: Federal officials and their immediate family members are barred from issuing, sponsoring, or endorsing digital assets.
- *Penalties*: Violators will face civil and criminal penalties, with retroactive effect.
*Cryptocurrency Token*
MEMEACT is also the ticker symbol for a meme-themed cryptocurrency token on the Solana blockchain. As of May 7, 2025, the token's market details are ² ¹:
- *Market Capitalization*: Approximately $2,890
- *Circulating Supply*: Around 997 million tokens
- *Number of Holders*: Approximately 120
*Context and Implications*
The proposed bill was introduced in response to controversies surrounding politicians launching or promoting meme coins, particularly $TRUMP. The legislation aims to maintain integrity and transparency in government, but its impact on innovation and freedom to participate in the crypto ecosystem is a subject of debate ¹.
[5/7, 12:16 PM] Business assistant: The #MEMEAct refers to two different proposals:
*Legislative Proposal*
The Modern Emoluments and Malfeasance Enforcement (MEME) Act is a proposed bill in the US Congress aimed at preventing federal officials, including the President, Vice President, and members of Congress, from profiting off their public positions through digital assets like meme coins. This bill seeks to address potential conflicts of interest and unethical financial gains by public officials ¹.
