#MEMEAct In response to the recent sharp declines of the TRUMP and MELANIA meme coins, California Representative Sam Liccardo has introduced the Modern Emoluments and Malfeasance Enforcement (MEME) Act.
The MEME Act was introduced in response to concerns over the launch of the TRUMP meme coin and MELANIA meme coin, associated with former President Donald Trump. Critics argue that such ventures could exploit public office for personal gain, leading to ethical and national security concerns.
šļø Legislative Status
This proposed legislation aims to prohibit public officials and their immediate families from issuing, sponsoring, or endorsing cryptocurrencies, securities, or commodities.
As of now, the MEME Act is a proposal and has not yet been enacted into law. Its progress through the legislative process will depend on various factors, including political support and potential amendments.
š§¾ Key Provisions of the #MEMEAct
Prohibited Activities: The bill seeks to prevent the President, Vice President, Members of Congress, senior Executive Branch officials, and their spouses and dependent children from issuing, sponsoring, or endorsing securities, futures, commodities, or digital assets, including meme coins.
Promotion Restrictions: It would also bar these officials from engaging in promotional activities likely to benefit themselves financially from such assets.
Penalties: Violators could face both criminal and civil penalties.
Retroactive Application: The legislation includes provisions to address profits gained from assets issued before its enactment, potentially requiring disgorgement of such profits.
The Modern Emoluments and Malfeasance Enforcement Act (MEME Act) is a legislative proposal introduced in 2025 to address concerns over potential conflicts of interest involving federal officials and their families profiting from digital assets, particularly meme coins.
